CO-OP Financial Services introduces cardless cash access for ATMs

Seamless, secure enhancement improves ATM experience, eliminates card skimming losses

RANCHO CUCAMONGA, CA (July 17, 2018) — To help credit unions meet digital consumer expectations and enhance security, CO-OP Financial Services is adding cardless ATM transactions to its roster of digital banking and payment solutions. The new Cardless Cash Access allows members to withdraw cash faster and more securely at the ATM by using their phones, rather than a plastic card, to initiate and complete a transaction.

CO-OP is the first credit union fintech provider to offer cardless cash access as part of ATM network and terminal driving services. Based on the latest ATMIA Global Fraud and Security Survey, published in January 2018, ATM Skimming and PIN compromise was one of the most common ATM fraud attacks in 2017. Cardless access solves this problem as the solution uses QR code technology – no card and PIN required.

“As with most iterative technology, the ATM channel continues to evolve alongside user expectations,” said Todd Clark, President/CEO, for CO-OP. “One of the most significant ways the ATM improves is through integration with other technology, whether that’s back-office data and reporting tools or consumer-facing UX software. Seamlessly connecting the ATM to the smart devices consumers rarely leave home without is a continuation of this progress. It’s something we know credit union members, especially those who are highly mobile and technology savvy, are going to love.”

How Cardless Cash Access Works

Credit unions add the Cardless Cash Access feature to their own mobile banking app. The accountholder is then able to log-in to the app and stage the cash withdrawal. Once at the ATM, the accountholder selects the Cardless Cash Access option, leading the ATM to display a dynamic token or QR code. The accountholder then scans the QR code with the mobile app and when authentication is complete, the cash is dispensed.

Cardless Cash Access can be used on Diebold Nixdorf and NCR ATMs within the CO-OP ATM network, and managed by CO-OP Terminal Driving services.

Cardless Cash Access Helps Fight Fraud

Clark emphasized that when it comes to payments innovation, especially in the self-service realm, security controls must be a priority. The growth of cardless transactions is expected to reduce fraud because it makes card skimming impossible. By removing the card from the transaction all together, the technology eliminates the risk of mag-stripe data compromises at the terminal.

Aside from the fraud prevention benefits, Clark said cardless ATM capabilities will allow credit unions to accelerate their digital transformation. “Through digital transformation, credit unions are aiming to deepen member engagement, boost transactions, solidify their differentiation and drive growth. Cardless Cash Access checks each of those boxes while also reducing fraud.”

About CO-OP Financial Services

CO-OP Financial Services is a payments and financial technology company whose mission is ensuring the success of the credit union movement. CO-OP payments solutions, engagement services and strategic counsel help credit unions optimize member experiences to consistently provide seamless, personalized multi-channel offerings, while delivering secure, sophisticated fraud mitigation service. For more information, visit


Bill Prichard, APR
Director, Public Relations
CO-OP Financial Services
(909) 532-9416

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