Payments Innovation

Pin4 Open Cardless Cash Network Goes Live

ATM skimming
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The first phase rollout of the Pin4 open cardless cash network in the U.S. was announced Tuesday (Feb. 23) and will provide cardless access to Pin4-enabled ATMs in New York City, Miami, Chicago and Los Angeles.

The expansion will continue nationwide throughout the remainder of the year.

“We are thrilled to have launched the initial phase of our rollout. By enabling ATMs in the four largest cities in America, we will not only have a large concentration of ATMs equipped to offer cardless cash withdrawals but will also be uniquely positioned to bring new and innovative solutions that will redefine the ATM marketplace,” Richard Witkowski, CEO of Pin4, said in a press release.

“Cash isn’t going anywhere, and as companies and consumers increasingly look for mobile solutions that reach beyond simple cash withdrawals, our technology is the very first to equip ATMs to facilitate P2P transfers, as well as rewards and promotion redemptions. With Pin4, ATMs become mobile money terminals,” Witkowski added.

Pin4 partnered with independent ATM deployer Payment Alliance International (PAI) to pioneer cardless cash withdrawals and support solutions that support P2P transfers, promotions and rewards fulfillment — all without the need of an ATM card or bank account.

“We are pleased to partner with Pin4,” explained John J. Leehy III, president and CEO of Payment Alliance International. “Pin4’s open solution is not tied to a consumer’s bank relationship or bank account. Instead, transaction issuers can send cardless cash to any consumer who has a mobile phone. This has the potential to drive millions of new mobile transactions to participating ATMs and increase foot traffic for our retail clients.”

In order to initiate mobile, cardless cash withdrawals, Pin4 sends a text to the money recipient’s phone containing a secure PIN. The recipient is then able to pick up cash at a Pin4-enabled ATM by entering the secure PIN, along with a code the sender has provided. This patented dual-PIN authentication is designed to ensure security throughout the process.

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