Cardless Cash Coming to Credit Union ATMs
FIS and CO-OP Financial Services have partnered to add Cardless Cash to credit union ATMs. This partnership will bring extra security to credit union customers by reducing the risk of card skimming at ATMs.
FIS Cardless Cash allows customers to use their mobile banking app, which has TouchID, to access their funds without inserting their card into an ATM. The mobile banking app acts as a remote control for the ATM, with customers completing their withdrawals in about 10 seconds and getting a receipt on their smartphone.
“Cardless Cash combines innovation, efficiency, convenience and security to create both a valuable end-user service and a new revenue source for financial institutions,” said Anthony Jabbour, chief operating officer of Banking & Payments at FIS.
“This partnership will provide credit union members additional convenience, combined with the latest in transaction security,” said Todd Clark, president and CEO at CO-OP Financial Services.
FIS Cardless Cash, which operates one of the nation’s largest mobile phone-to-ATM networks, will launch at CO-OP ATM Terminal Driving services in the first quarter of 2017. CO-OP provides credit union members with surcharge-free access.
Currently, 35 financial institutions are active on FIS Cardless Cash, and is projected to be available at more than 100,000 ATMs nationwide in the near future.