FIS and PAI Partner to Bring Cardless ATM Transactions
A new partnership between FIS and Payment Alliance International (PAI) means that FIS Cardless Cash, which gives consumers the opportunity to withdraw funds from an ATM without a debit or credit card, will be expanding across the United States.
FIS Cardless Cash works through the FIS Mobile Banking with TouchID app, which acts as a “remote control” for the ATM. In addition to convenience, the app promises to provide more security for consumers. Since users do not need to use their ATM card, they are less likely to be the victims of card skimming or shoulder surfing.
According to a company statement, FIS Cardless Cash allows consumers to complete withdrawals and receive a smartphone receipt in under 10 seconds.
“Our clients are always looking for ways to improve their offerings, drive more revenue and surpass customers’ expectations,” said John J. Leehy, III, president and chief executive officer of Payment Alliance International. “This partnership brings the latest in transaction security to the PAI ATM network, while enhancing customer convenience and improving their overall ATM experience.”
“Adding retail ATM locations to our Cardless Cash ecosystem brings the best in convenient access to customers,” said Douglas Brown, SVP and GM of FIS Mobile. “We want to make mobile-centric access to cash a ubiquitous experience.”
This agreement, which makes NYCE the first national payment network to support mobile phone-to-ATM transactions, will ultimately expand to 70,000 ATMS in the PAI network, including those located at retailers, gas stations and convenience stores.
FIS Cardless Cash first rolled out in January 2015, and there are currently 34 active banks on the network.