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Diebold FCU pilots card-free, PIN-free ATM
March 21, 2014
The brand-spanking new ATM at the Diebold Federal Credit Union boasts neither an EMV card reader nor an EPP7 keyboard. Such security measures are both redundant and retrograde on an ATM accessed solely via smartphone.
To use the pilot-test machine, the member simply scans a one-time QR code at the ATM with a smartphone; the ATM authenticates the user via the cloud to initiate a secure, cardless transaction.
A news release from Diebold Inc. said the DFCU pilot is a "world's first." The system integrates Diebold ATM technology with a mobile cash access (MCA) solution from white-label mobile wallet provider Paydiant. The companies developed the cross-channel solutions and hold complementing patents on the technologies.
MCA allows the consumer to fully pre-stage cash withdrawals on a smartphone, including designation of the amount to be dispensed. The MCA offering also allows financial institutions to provide a secure, institution-branded mobile wallet solution without having to install additional hardware on ATMs or POS terminals.
According to DFCU president and CEO Dan Gann, members — particularly Millennials — are readily adopting the technology, which not only delivers consumer convenience, but also encourages FI brand awareness.
"[B]y offering a branded mobile wallet solution, we're reinforcing our connection to members' retail purchases and reminding them that we're enabling this convenience," he said.
Wintrust Financial Corp. and City National Bank are also piloting the MCA solution in partnership with FIS, Paydiant and Diebold, the release said.
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Diebold Nixdorf
As a global technology leader and innovative services provider, Diebold Nixdorf delivers the solutions that enable financial institutions to improve efficiencies, protect assets and better serve consumers.
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