Payment Alliance International (PAI) has selected MagTek’s tokenisation solution to offer secure and convenient cardless ATM and mobile payment transactions in the US.
Under the partnership, MagTek's QwickCodes will be deployed across PAI's countrywide network of over 74,000 ATMs.
QwickCodes enables users to pay for goods and services at stores and online, or to access cash from ATMs, without compromising sensitive payment information.
To make cardless transactions, consumers need to generate a unique QwickCodes by swiping their payment card at ATM and a one-time, disposable account number and PIN will be created.
QwickCodes Mobile Wallet runs on a PC or Apple iOS device together with a MagneSafe card reader.
MagTek president and CEO Mimi Hart said: "QwickCodes is a tokenisation solution that delivers advanced security, eliminating the card's static primary account number and other sensitive card data from entering the ATM, and replaces the card present data with a dynamic token that can only be used one time.
"QwickCodes are easily created, shared and used at the ATM and offer consumers more choices to help them experience an easy and reliable payment experience while keeping their actual card data away from hackers."
PAI president and CEO John Leehy, III said: "All of us are searching for new and better ways to improve the customer experience, while enhancing the protection of critical data. The MagTek team has brought us an exciting new offering that we think the market will love."