Samsung and Diebold Nixdorf Showcase Mobile-Based Identity Verification for Cardless ATMs
Samsung and Diebold Nixdorf have teamed up to revolutionize cardless ATMs. At the digital banking conference in Austin, Texas, the groups demonstrated how mobile based identity verification will work on ATMs of the future.
The problem with the existing technology is that it often requires a PIN or multiple authentication steps to complete a transaction. Samsung and Diebold Nixdorf have streamlined the process to “complete a secure and convenient cardless cash withdrawal in seconds.”
With the new system, users can set up a cash withdrawal on their mobile banking app before they arrive at the ATM. Then, they simply hold their phone up to the NFC reader on the machine and confirm the transaction. The phone will verify a person’s identity using facial recognition to reduce security risks, and the cash will be dispersed.
Banco Popular, a financial institution in Puerto Rico, will pilot the new system this summer. If it goes well, the technology could quickly spread in the United States. Scott Koo, CEO of Samsung SDS in America, said the company is taking the concept of Samsung Pay’s mobile transaction processing and applying it to ATM withdrawals.
“We have already shown how this works with Samsung Pay and now have extended this functionality to provide a faster and secure approach to cardless transactions.”