Make ATM Withdrawals from your Smartphone

While we’ve often discussed cashless purchasing via your smartphone, whether it be through NFC or QR codes, but what about simply having the ability to get cash?

Soon enough, consumers will be able to visit an ATM sans-card—all they need is their smartphone. NCR, an ATM manufacturer, recently announced that consumers will soon be able to make withdrawals using their cell phone.

Essentially, consumers will be able to login to their mobile bank account to authenticate their identity, and then scan a barcode the ATM screen to complete their transaction.

While it may sound like it could take longer than simply inserting an ATM card, consumers can start logging in before they reach the ATM, even specifying how much cash they would like to take out, so when they arrive, all they will need to do is scan the QR code and receive their cash. It’s also convenient for times when you don’t have an ATM card with you.

In addition to saving time, NCR’s barcode ATM will prevent fraud—criminals will no longer be able to use a skimmer to record your card number and PIN.

Currently, NCR is in the process of finding launch partners, but hopes to roll out their new service later this year.

Would you use your smartphone to withdrawal cash—why or why not? Share your thoughts by commenting below, or on our Facebook or twitter pages.