iPhones can now be used to withdraw cash

iPhones can now be used to withdraw cash from 70,000 ATMs in the US

Plastic cards are no longer needed for ATM cash withdrawals as FIS has partnered with Payments Alliance International (PAI), America’s largest, privately-held provider of ATM processing and maintenance services, to bring mobile cash withdrawal to 70,000 ATM locations.

Customers will therefore no longer have to worry about the risks of card skimmings, instead being able to withdraw cash using the Touch ID on iPhones.

FIS says the mobile banking app, called FIS Cardless Cash, “acts as a remote control for the ATM”. Customers using the app can complete their withdrawals in 10 seconds and get an electronic receipt on their smartphone.

“Adding retail ATM locations to our Cardless Cash ecosystem brings the best in convenient access to customers,” said Douglas Brown, SVP and GM of FIS Mobile. “We want to make mobile-centric access to cash a ubiquitous experience.”

No announcement has been made regarding similar services for Android smartphones.

ATMs and mobile working together to bypass cards

Only last month, Bank of America revealed new ATMs that allow people to withdraw cash using their smartphone’s NFC capability. All users have to do is select their Bank of America card on their smartphone, hold it over the contactless logo and then type in the PIN.

Earlier in the year JP Morgan revealed its intention of rolling out cardless ATMs. Pin4, an open cardless cash network in the US, announced the launch of the first phase of its nationwide rollout, bringing consumers in New York City, Miami, Chicago and Los Angeles cardless access to cash at Pin4-enabled ATMs.

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