Innovation

ATM cardholders using QR codes instead of keypads to get cash

June 17, 2020

In Hyderabad, India, debit cardholders can withdraw cash from an ATM using a phone or digital mobile device to scan a QR code, thereby avoiding any contact with the keypad.

The ‘touchless’ ATM solution has been developed by AGS Transact Technologies, an end-to-end cash, digital payments and automation technology provider in answer to customers concerns with the coronavirus, according to a report in New India Express.

The process is simple for the cardholder. Using the bank’s mobile application, users enter their pin number and amount they plan to withdraw. They receive a special QR code and then use their mobile device and scan the code onto the ATM screen. The ATM receives the information about the account through the code and dispenses the requested cash. The customer never has to touch the keypad at all.  

"With minimum investment, the banks can enable this solution for their ATM networks by upgrading their existing software. This solution will resonate with banks and customers alike," said Ravi Goyal, Chairman of AGS Transact Technologies, told the media outlet.

The QR scanning software is compatible with most bank apps.