Fiserv Tests Card-Free ATMs

Fiserv Tests Card-Free ATMs

September 22, 2015         Written By Bill Hardekopf

Yet another bank is testing card-free ATMs. Fiserv, a financial services provider for banks and other financial institutions, has completed its pilot program for cardless ATMs.

The pilot program was conducted with VyStar Credit Union in Jacksonville, Florida. With this cardless ATM, consumers could withdraw cash without a card by using a secure access code and PIN at a participating ATM.

WSFS Bank in Delaware launched a new line of ATMs in late June that did not require a card or a PIN for cash withdrawals. The machines used a mobile app to verify a person’s identity and authorize access to account details.

While the WSFS system relies on QR code scanning for authorization, Fiserv’s program utilizes a secure access code and PIN to verify a person’s authenticity. Banks using Fiserv card-free ATMs will be able to set limits on withdrawal amounts and the number of transactions a person can have without a card present.

“Card replacement can take time, and wire transfers can be expensive. Instant access to funds without a card helps financial institutions improve service and security,” said Vincent Brennan, President of Card Services at Fiserv.

While the idea of a cardless ATM may seem strange, it does align with the current transition to mobile banking and mobile wallets. As Apple Pay, Android Pay and Samsung Pay become more popular among American consumers, the idea of bringing a card to the ATM may also become archaic. It won’t take long for more card-free cash withdrawal systems to emerge due to the increased demand for more convenient financial solutions.

The information contained within this article was accurate as of September 22, 2015. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and may be compensated if you take action with any of our affiliate partners.


About Bill Hardekopf

Bill Hardekopf is the CEO of and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.
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