You'll soon be able to take advantage of cardless withdrawals at more than 70,000 ATMs nationwide thanks to a new partnership between FIS and Payment Alliance International, the nation's largest privately-held ATM servicer. The two firms have announced that the QR code-based mobile platform will be rolling out to ATMs at gas stations, retailers, and convenience stores across the United States.
FIS Cardless Cash protects consumers by reducing risk of card skimming and shoulder surfing, both of which are on the rise at ATMs, according to industry data. By leveraging FIS Mobile Banking with TouchID, customers securely access their funds and authorize the amount they want without inserting a plastic card into an ATM. The mobile banking app acts as a remote control for the ATM, providing unparalleled privacy and security for consumers. Customers using FIS Cardless Cash can complete their withdrawals in 10 seconds and get an electronic receipt on their smartphone.
It's certainly an interesting implementation, made more secure by the use of Touch ID to verify withdrawals. However, there is currently no rollout timeline available.
This implementation is separate from track that Bank of America has taken in implementing support for contactless withdrawals at its ATMs using Apple Pay and other NFC-based platforms. Similarly, Wells Fargo is expected to add Apple Pay support for ATM withdrawals later this year.