Merchant Innovation

Getting Cash From An ATM Could Get A Whole Lot Easier

ATM Heist In Taiwan
It could soon be getting a lot easier (and safer) to take cash out of an ATM.

It could be getting a whole lot easier to get cash out of ATMs, as FIS and ATM provider Payment Alliance International recently announced plans to bring Touch ID access to 70,000 ATMs across the U.S., according to a report from The Verge.

Under the partnership, ATM customers can use their FIS Cardless Cash app with eligible Payment Alliance ATMs and withdraw the cash directly through their phones by making a withdrawal online. ATM customers will have to use a QR code at the ATM to authenticate themselves and can then access and withdraw their waiting cash from the machine.

It will even allow ATM customers to verify themselves with Touch ID to confirm the withdrawal and take out their cash.

There is no timetable for when the ATMs will be released across the country — and no specified areas yet — but this new feature should make ATM withdrawals more convenient and safer for customers.

With card skimmers becoming more sophisticated and harder to detect all the time, this is one way to bypass the act of having to physically insert your card into an ATM (or a skimmer that looks like part of the ATM). Although, the new ATMs still come with their own set of risks for most online cash transfers or transactions.

FIS and Payment Alliance are just the latest companies and banks to move in this direction. Bank of America, Wells Fargo and JPMorgan Chase all announced plans this year to make their ATMs compatible with Apple Pay in the near future.

If you’re one of those people who’s always worried about the security of that unfamiliar ATM that you have to use in a strange place, the solution could soon be on its way.


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