SIOUX FALLS, S.D. (12/17/13)--Providing a glimpse of what is perhaps the future of ATM transactions, the ATM Industry Association (ATMIA) has published a manual of best practices for cardless ATM transactions.
"We believe strongly in the future of cardless as a convenient new form of transaction at the ATM," said Mike Lee, ATMIA CEO.
The manual provides an overview of the technical, operational, regulatory and marketing issues of cardless transactions, written by international payments consultant Barry Forbes.
Among the types of the transactions Forbes will discuss are:
Mobile-based pre-staging of transactions, in which the mobile device replaces the ATM screen and keyboard;
Proxy-based transaction, in which mobile numbers, one-time-pins or voucher numbers, are entered in place of card swiping; and
Douglas Russell, director of DFR Risk Management, gives an overview of the security implications of cardless technology in the manual.
The manual includes international case studies of transaction programs and outlines how developing channel strategies take advantage of the interactivity between consumer-owned devices and ATMs.