NORTH CANTON, Ohio - Consumers with mobile phones or personal digital assistants could gain the ability to interact directly with their bank's ATMs in ways that could change where, when and how often they bank.
A newly patented technology developed by Diebold Inc. expects to enable mobile devices to interact directly with bank ATMs. Diebold says it spent the last 18 months developing the technology, which has been granted five U.S. patents that cover a variety of applications.
According to a news release, the technologies extend beyond regular mobile banking practices that permit cell phones to conduct online banking transactions, such as transferring funds or checking account balances. The new technologies covered by the patents will allow consumers to use mobile devices to locate and get directions to the nearest ATM, "order" cash withdrawals remotely, generate electronic checks to pay for goods or services, transmit wireless payments, and conduct other transactions more securely and conveniently.
"Diebold's new patented technology has the potential to offer myriad applications to boost the convenience and personal security factors of using an ATM," said Jim Block, director of global advanced technology for Diebold.
Approximately 8 billion ATM transactions are performed annually in the United States, according to Dove Consulting. Those transactions add up to $600 billion in cash dispensed annually.
"Diebold is in discussions with technology partners that could bring these applications closer to reality," Block said. "The know-how to marry mobile devices to ATMs has been lab-tested by Diebold's engineers and could be in users' hands within three to five years, facilitating faster ATM transactions and more of them, in more places and at more hours, with greater peace of mind."
- Patent 7,040,533 enables mobile devices to interact directly with an ATM and a bank system to allow a customer to order cash withdrawals from a mobile device. The technology offers protection against card-skimming and PIN surfing at ATMs, since a customer's mobile phone becomes his or her input device to the ATM.
- Patent 7,207,477 enables mobile devices to be used in a checkout or bank environment to make payments using secure electronic checks.
- Patent 7,201,313 enables a bank network to receive wireless communications from a mobile device, including a customer's bank account number and account cash value. This patent defines how a wireless device can "communicate" with a bank network to dispense cash and assess a customer's account for the value of the cash dispensed.
- Patent 7,150,393 enables bank ATMs to communicate with mobile devices through a cellular network or other wireless methods. This application could also allow two or more customers to simultaneously conduct transactions with an ATM.
- Patent 7,025,256 enables a user of a wireless device to interact with an ATM by using the wireless device's display and keypad instead of the display and keypad on the ATM.
