Consumer-recognition technology – accountholders are identified via NFC as they approach the device, and gain instant access to cash through contactless technologies such as QR codes, NFC and iris-scan biometric technology. The new system is more secure than traditional ATMs, in part because you wouldn’t need a card and wouldn’t have to punch in a PIN, the company said.
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If the way we use ATM machines does change, it wouldn’t be in the near future.
“While digital channels continue to evolve, cash will continue to have a role in consumer transactions”, Diebold executive vice president, self-service technology Frank Natoli said in the announcement.
Rather, the customer would log in to their bank’s mobile app and select how much money they want to withdraw.
The Wall St Journal reported that Citigroup has not set a date for when the retinal scanners would be introduced.
Shared technology – the device shares alarm boards, connectivity and monitoring technology without compromising security, transaction speed or ease of use, Diebold said.
Other banks like Wintrust Financial and BMO Harris Bank have also been experimenting with similar technologies.
No debit cards also means no screen or touchpad on the ATM.
They clutter up social networking sites and cause irritating pile-ups at tourist attractions, but there may finally be a real use for selfies.
To buy something, a Selfie Pay user has to take a clear photograph of their face.
The facility incorporates emerging technological advances in order to give users the possibility to conduct cardless transactions, which neutralize the risk of falling prey to credit card fraud.
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A common tactic is distraction and criminals engage somebody in conversation just as their card is being taken out, allowing them to steal it.
