FIS, the financial services technology, and Cardtronics, the ATM owner/operator, announced Thursday (June 29) plans to integrate FIS Cardless Cash access across Cardtronics’ ATM fleet in the United States.
In a press release announcing the news, FIS said the FIS Cardless Cash, which leverages the FIS Mobile Banking app, enables banking customers to withdraw funds from ATMs without having to use a plastic card.
The companies said the rollout will take 24 months and that the FIS Cardless Cash functionality at Cardtronics ATMs will debut cardless cash access at some of the largest retailers in the United States, as well as enable financial institutions to offer in-network use of cardless cash functionality at both branch and retail ATMs.
“Cardtronics, as the global leader in ATM and surcharge-free solutions for retailers and financial institutions, is uniquely positioned to dramatically expand the use of cardless cash access at ATMs in the United States,” said Brad Nolan, EVP and managing director, Global Product and Marketing, Cardtronics, in the press release. “Enabling cardless cash access at our ATMs is just one more way Cardtronics can help banks transitioning to more digitally focused, self-service strategies.”
According to FIS, the FIS Cardless Cash protects consumers by lowering the risk of card skimming and bad guys looking over unsuspecting banking customers’ shoulders. With the technology, consumers can access their funds and authorize how much to withdraw without needing a physical card.
The FIS mobile banking app acts as a remote control for the ATM, providing privacy and security for consumers. Customers using FIS Cardless Cash can complete their withdrawals in 10 seconds and get an electronic receipt on their smartphone.
“FIS Cardless Cash already has created the industry’s largest cardless ecosystem, providing convenience to U.S. customers and a better security model for financial institutions,” said Anthony Jabbour, chief operating officer, Banking & Payments, FIS, in the same press release. “This partnership with Cardtronics exponentially grows that ecosystem, further facilitating customer adoption and increasing the efficiency, convenience and security of ATM transactions.”