Banks to install contactless ATMs to cut down on touch - THEMARKETTRENDZ

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Thursday, 4 June 2020

Banks to install contactless ATMs to cut down on touch

Traditionally, the ATM has been using a magnetic stripe card for identification of the accountholder and the PIN for authorisation. To use the contactless ATM, the customer has to use the bank’s smartphone app to scan a QR code on the screen and enter the amount and ATM PIN in his mobile, and collect the cash without touching the machine.

from Banking/Finance-Industry-Economic Times
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