You can now withdraw money without touching ATM machine, know what is technology and how it will be

- Advertisement-

Since the outbreak of corona infection, the whole world has been recovering from it. In view of the danger, some banks also worked on contactless cash withdrawal service and tried it. However, the entire process could not be contactless.

In view of this, MasterCard has now partnered with AGS Transact Technologies. Through this, the effort is to make the customer withdraw cash from the ATM completely contactless.

Also Read: How to make a group on WhatsApp web

How to withdraw money without touching ATM

This technique will be based on QR code scanning. This will be the QR code on the ATM screen which has to be scanned with the help of the bank’s mobile app. After this, you have to enter your secret PIN number and the amount you want to remove on the mobile screen itself. Doing so, cash will come out of the ATM.

According to a report by Mint, Mahesh Patel, Group Chief Technology Officer of AGS, said, “So far this process was similar. However, the difference was that customers had to enter the amount at the ATM. Now we have found a completely contactless approach.

‘Banks which use the MasterCard network can approach AGS to provide this service to their customers.

According to Mahesh Patel, new technology is not only very useful in this time of pandemic, but people will also get rid of ATM fraud. He told that when the company started working on this technology two years ago, the first goal was to deal with ATM fraud.

Bank of India customers are getting convenience

AGS Transact Technologies first started offering this technology with Bank of India (BoI). However, he was not completely contactless. A customer had to touch an ATM machine to enter the amount.

Also Read: Personal Finance: Do not rush in taking a car loan, if you take care of these 6 things, you will get more benefit

However now, AGS has implemented a complete contactless solution for Bank of India. It is currently applicable in some ATMs.

According to the AGS, to fully implement this technology, banks will have to make some changes in the software of their ATMs.

According to the AGS, it has also introduced its technology to the National Payment Corporation of India.

Related Articles

Back to top button