News

Wincor, BAWAG collaborate on cardless ATM withdrawal solution

The service includes an added component that allows the customer to withdraw a sum in excess of the usual ATM limit.

May 4, 2015

Austrian financial institution BAWAG PSK has become the first bank in Europe to introduce cardless cash withdrawals at ATMs in all its branches. Together with its technology partner Wincor Nixdorf, the FI developed its new SmartCash function to allow cash dispensing at ATMs using just a mobile phone.

The customer can use the BAWAG e-banking online service or e-banking smartphone app to set up the transaction. The user then receives a 10-digit code via text message.

This single-use code is valid for four hours and can be used to withdraw 10 to 400 euros ($11 to $446) in cash from an ATM.

If a larger sum is needed, it can be withdrawn in combination with the accountholder’s bank card. Using the combination of card, code and PIN, the customer may withdraw up to 5,000 euros ($5,578) from an ATM, eliminating the need to stand in line at the teller window.

SmartCash is available at ATMs in approximately 500 BAWAG branches and, according to the release, has seen rapid uptake with customers.

"It was important to us to offer our customers more convenience and flexibility with BAWAG P.S.K.’s new SmartCash function for e-banking and the e-banking app," said Athir Findi, head of the department for direct sales online banking and brokerage at BAWAG. "Cash withdrawals without a bank card are a future-proof solution with a strong focus on customer benefits."

Driving the new service is the Wincor Nixdorf PC/E software platform with a smart client component that runs on the ATM, and a server component that authorizes the withdrawal via the code.

"In close cooperation with the retail banking experts at BAWAG P.S.K., we were able to create a very customer-centric solution that meets the demand for omnichannel banking services," said Josef Pichler, director of software and solutions for Wincor Nixdorf Austria.