ATMs in India are Testing Touchless Cash Withdrawals Using Smartphones


INTRO: As slowly and gradually we are moving towards the unlock phase and preparing ourselves for the life post the Coronavirus lockdowns and quarantines, there are a lot of things to remain wary about.

We will have to need to wear masks in public places, practice social distancing (even when taking group selfies), and try not to touch random surfaces. That means using ATMs can be a huge issue. However, banks are figuring out ways to allow customers to withdraw their money without touching the ATM machine.

According to the reports we have reached up to recently, AGS Transact Technologies Limited is reportedly testing the new solution with interested banks. The good thing is that here that banks don’t need to replace their existing ATM machines to use the touchless solution. Instead, of that all they need to do is push a software update to their ATMs.

This will show up a QR code on the screen of the ATM, which the user can scan on their bank app to authenticate and authorize the withdrawal. Users can then enter the required amount into their own smartphone and collect the money from the ATM machine. It does sound like a good idea, and banks have started testing it out already.

Speaking of the technology, AGS Transaction Technologies CEO Ravi Goyal is quoted as saying the following. “With a minimum amount of investment, the banks can enable this solution for their ATM networks by upgrading the existing software in the ATM machines. We are confident that this solution will resonate with Banks & customers alike”

 So now we will have to wait for the further announcement regarding this Online ATM transactions.


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