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Domestic ATM can benefit Turkish economy, consumers, FI says

İşBank says its new PIN-free cash machine would save $100M that is currently sent out of the country to purchase imported brands.

September 17, 2015

Turkish FI İş Bankası has developed a domestically manufactured PIN-less ATM and says that if all of the nation's banks switch to the new solution, they will save the Turkish economy an aggregate $100 million per year — money that currently is being sent out of the country to purchase imported cash machines and parts.

The new ATM, "İşCepMatik," is the product of a two-year collaboration between İşBank and Turkish technology producer DGI works, according to a report by Daily Sabah.

The all-digital machine has no card reader or keypad; access is enabled through a smartphone app and either Bluetooth communication or QR codes. Currently, the machine is limited to cash withdrawals; deposit facility will be added soon, the bank said.

To get cash, the user simply logs onto the app, selects "withdrawal," and enters the amount desired. When the machine detects the phone's Bluetooth signal within its beacon field, it dispenses the requested cash.

The bank aims to expand its İşCepMatik fleet in 2016 and 2017 with replacement of existing ATMs completed in 2018, the report said.