FIS and Payment Alliance International (PAI) have collaborated to offer FIS Cardless Cash, a mobile solution, to ATMs across the US, in order to reduce the risk of card skimming during ATM transactions.
Customers using FIS Cardless Cash can complete their withdrawals in 10 seconds and get an electronic receipt on their smartphone.
Additionally, by using FIS Mobile Banking with TouchID, customers securely access their funds and authorise the amount they want without inserting a plastic card into an ATM.
The mobile banking app serves as a remote control for the ATM, offering improved privacy and security for consumers.
Under the terms of the agreement, mobile banking users will be able to use FIS Cardless Cash on participating PAI ATMs in over 70,000 stores, gas stations, restaurants and shopping malls across the country.
FIS COO of banking & payments Anthony Jabbour said: “Our partnership with PAI extends FIS’ leadership to the largest Cardless Cash ecosystem, and will benefit both banks and their customers.
“Our Cardless Cash product combines innovation and efficiency with consumer convenience and security. For banks, it’s a new revenue source and this widespread network should facilitate customer adoption.”