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According to Diebold, it has developed the first ATM machine that integrates with mobile devices via the cloud, allowing consumers to complete cardless transactions. The ATM machine also features a new user interface that enables touch gestures, such as flick and drag, often associated with smatphones and tablet devices.
"Mobile devices are driving user experience expectations in all facets of commerce," said Frank A. Natoli Jr., Diebold's executive vice president and chief innovation officer. "With the burgeoning power of the Millennial generation, Diebold envisions this technology will further influence user experiences at the ATM."
To complete a cardless withdrawal, a preregistered bank customer scans the ATM's QR code using his or her smartphone. Once the devices syncs with the cloud, a transaction screen appears on the smartphone where the customer selects the withdrawal amount. The cloud server then sends a one-time code to the smartphone, which the customer enters on the ATM screen to authenticate the transaction and receive cash. The ATM subsequently delivers a receipt via a text message or e-mail, based on the customer's preference.
In addition to its ease of use, Diebold said the new ATM technology is important because cardless transactions reduce consumer security risks related to lost or stolen cards, as well as the opportunity for skimming. Also, the one-time authorization code expires immediately after completing a transaction.
The ATMs provide other advantages, stated Diebold. They do not require onboard computers or card readers, meaning the machine has reduced power requirements and uses less hardware than traditional ATMs.
Diebold plans to launch pilot testing of the yet-to-be-named ATM with financial institutions later this year.
North Canton, Ohio-based Diebold provides integrated self-service delivery and security systems with representation in 90 countries worldwide.