NCR Corporation has teamed up with Coinhub, a cryptocurrency exchange in the UAE to allow users to make cash withdrawals from their cryptocurrency account at the ATM.
NCR’s CxBanking software will provide users in the UAE easy access to their bitcoin funds.
NCR has said that the process of the cryptocurrency transaction is as simple as any other transaction at the ATM.
A withdrawal begins with authenticating the user either by scanning a standard ATM card or via cardless access with a mobile device. Similar to the selection of checking or savings accounts, the user can opt to withdraw funds from their linked CoinHub cryptocurrency account.
Panicos Demetriades, vice president of professional services at NCR financial services, said: “This locally conceptualised solution is yet another example of how NCR, a dominant ATM and payments player in the UAE, is investing in innovation to make every user’s interaction with their bank exceptional.
“When we first showcased this solution to mark the 50th anniversary of the ATM last year, the positive feedback from our leading financial institution customers in the UAE helped guide our decision to bring this to market.”
Delving into the realm of cryptocurrencies, NCR has continued to develop and improve the services it provides for consumers around the world. Expanding assisted services at an ATM has become a key focus for NCR. Integrating the physical channel into the digital has been a consistent theme around the world.
With its software, hardware, and portfolio of services, NCR enables nearly 700 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions with the focus on making the daily life of the consumer easier and more convenient. NCR is headquartered in Duluth, Georgia USA with over 30,000 employees.