Diebold Nixdorf is teaming up with Mastercard to trial two services that provide cash banking users on the go - Mastercard Cash Pick-Up and Cardless ATM powered by Mastercard.
The cash pick-up service allows banks to deliver cash more quickly, securely and easily to any authenticated consumer – banked or unbanked – through enabled ATMs, without the use of a card. This opens the ATM channel to even the under-banked consumers and allows financial institutions and ATM deployers to increase their revenue through new transaction volumes.
Cardless ATM powered by Mastercard meanwhileallows account holders to withdraw cash from the nearest ATM using the convenience of their mobile banking app.
Once consumers are at the ATM, they can quickly move through the authentication process to receive their cash. Since the majority of the transaction is handled through the banking app and the cloud, sensitive information is never exposed.
"As a technology company, we are always considering what the future can bring, and today we have a great opportunity with Diebold Nixdorf to define the next wave of digital products to the ATM channel," Mastercard SVP of ATM product management Daniel Goodman said.
"By bringing together the Mastercard network and Diebold Nixdorf's large global scale, we can help move the ATM industry towards a globally scalable standard for driving digital innovation in the ATM channel."
"This partnership with Mastercard is another way we are continuing to securely bridge the digital and physical worlds of cash by innovating the ATM experience for consumers through our Vynamic suite of software solutions," Diebold Nixdorf SVP for software Alan Kerr said.
"Many of our customers are looking to retain consumers and drive incremental transactions to their self-service channels, and this partnership with Mastercard delivers on both of these fronts."
First published in FinTech Innovation