Now you can withdraw money without touching ATM, know what is the process - Newztezz Online


Friday, February 12, 2021

Now you can withdraw money without touching ATM, know what is the process

Technology is so advanced that you can withdraw money from an ATM machine without having to touch it. 
The fact is, some banks started contactless transactions after the Corona epidemic started. However, this feature is not completely contactless. It also necessarily has a human body touch. MasterCard has now entered into an agreement with AGS Transact Technologies, after which users will now be able to facilitate 100% contactless transactions.

The QR code must be scanned

The process will be fully digital. For this, users will have to scan the QR code of the ATM machine from their mobile app. Now you have to enter the debit card PIN and amount on your mobile. As soon as the process is completed, the ATM will do the transaction and you will get the money out of the machine. Yet in a contactless transaction customers had to touch the ATM machine to deposit money. Now after scanning, all the options of ATM will come in the phone and the next process will have to be done in the phone. Finally you can withdraw money from ATM.

ATM fraud will be curbed

In such cases AGS can contact the company if the bank uses the MasterCard network. Mahesh Patel, group chief technical officer of the company, said, "This will also curb ATM fraud. We have been working on this project for the last two years. Work on this technique was already underway in Corona. Our aim is to reduce ATM fraud.

Bank of Baroda launched the facility

AGS Technology has previously worked with Bank of Baroda for this. Earlier this service of the bank was not completely out of touch. Withdrawing money from ATMs has now become 100 per cent contactless. The company says, "If a bank wants to launch this feature for its customers, it needs a little update in the software." Apart from this the ATM switch will also have to be replaced. The company has also introduced its technology to NPCI.

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