The change brought by ATMs withdrawing cash from bank accounts is revolutionary. However the corona crisis poses a new challenge. Some people are still reluctant to go to ATM centers as there is a possibility of the virus spreading through ATMs. Research for contactless transactions in this order is ongoing. Great progress has been made in this direction.
With ATM Card you can now withdraw cash without touching the ATM. AGS Transact Technologies is enabling this contactless cash withdrawal. You can withdraw money from an ATM using just four steps in this process. For this, the bank’s mobile app must be installed in the customer’s mobile.
- Customers need to open their respective bank mobile app as soon as they go to the ATM.
- Scan the QR code displayed on the ATM screen using the mobile application.
- After that you have to enter the desired amount and PIN in the mobile app itself.
- The cash withdrawal will then be processed at the ATM. Finally collect the money from the ATM.
AGS Transact Technologies Limited Chairman, MD Ravi B Goyal said that there are several benefits to this approach. He said the policy would also help curb fraud in ATMs. AGS Transact Technologies has teamed up with Bank of India to make contactless access available. Goyal said it would be a game changer in the case of ATM Withdraw.
Efforts are also being made to make other services available under this scheme, such as locating nearby ATMs. The contactless withdraw service will soon be extended to more banks. In order to provide these services the bank needs to set up some software changes in the ATMs.