News

PrivatBank debuts the 'topless' ATM

October 29, 2013

A news release from PrivatBank reports that the FI has introduced the world's first Android contactless ATM. The machine, called "the black box," does away with the top half of the traditional ATM that houses the display. Instead customers set up transactions using the screen on an Android mobile device.

The ATM from PrivatBank — the Ukraine's largest commercial FI — is equipped with an NFC reader. According to the release, the Black Box incorporates a "first-class safe" and a minimum of electronics, and has no keypad or buttons.

According Alexander Vityaz, deputy chairman of PrivatBank, this brand new contactless technology will significantly reduce the cost of production of ATMs and, by extension, PrivatBank expenses fornetwork expansion.

"We have ruthlessly cut off [the] completely unnecessary top from the usual ATM," Vityaz said in the release. "Now each customer has his own display, keyboard and a card reader — a smartphone."

Vityaz said this new generation of ATMs developed by PrivatBank is cheaper to manufacture and maintain, is safe in terms of skimming, and performs the same task as a standard ATM — provide cash to customers.

According to the release, the first PrivatBank contactless ATMs will be installed in branches PrivatBank by the end of November. In the first quarter of 2014, the bank plans to make its ATM design available to the broader market.

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