The new power couple
by: Terry Dooley
The mobile phone has evolved from primarily a voice medium into a rich channel for data exchange and consumer interaction. The convergence of mobile communications with self-service (via the marriage of mobile technology and ATMs) will further leverage that bandwidth.
Indeed, mobile devices are becoming ATM-access tools, able to offer many of the display and keyboard functions currently available on the ATM.
A recent paymentssource.com article takes a look at six key mobile/ATM tie-ins. I’ve highlighted four of them below.
- Anti-skimming app — Allowing users to initiate ATM transactions via a mobile device removes the risk of card skimming.
- Time saving app — Using QR codes; there’s a patent for technology that enables consumers to withdraw cash from an ATM via their smartphone. This process is predicted to cut ATM session times in half.
