Empays Payment Systems along with Mastercard have come up with contact-free ATM cash withdrawals in India. Along with less human touch, this cardless ATM cash withdrawals will now be more secure from frauds and scams.
Amit the COVID-19 pandemic, a disease that spreads by touching infected people or surfaces, contact-free ATM cash withdrawals in the country is a master move. Empays Payment Systems along with Mastercard have come up with contact-free ATM cash withdrawals in India. Along with less human touch, this cardless ATM cash withdrawals will now be more secure from frauds and scams. Empays Payment Systems India Pvt Ltd is a cloud-based payment solution.
With this partnership, Empays will upgrade the IMT Payment System and incorporate the requirements of Mastercard Cardless ATM enabling EMV-capable cash withdrawal transactions.
The IMT Payment System powers the largest ATM network for cardless cash withdrawals in the world. The payment system is also available across 40,000 ATMs in India. It uses SMS technology to enable cash withdrawals from participating ATMs without any physical contact with a card.
To start with, the ‘Cardless ATM powered by Mastercard’ will eneble cardholders to digitally locate the nearest enabled ATM and make a withdrawal using their banking app by simply scanning a QR code on the mobile phone. It will allow cardholders to withdraw cash in 4 steps at their nearest enabled ATM – Open the banking app, scan QR on ATM, authenticate withdrawal amount on the banking app, and then pick-up cash from ATM. The whole process can be done without the need to insert any debit or credit card physically into the ATM, thereby minimizing any unnecessary contact. This process also makes it a cleaner withdrawal option vis-à-vis regular cash withdrawals, especially during current times of COVID-19.
Porush Singh, Division President, South Asia, Mastercard said, “With ‘Cardless ATM powered by Mastercard’, users will be able to withdraw cash safely by completely eliminating the need to use a physical card or touch an ATM PIN pad, while providing the security of an EMV transaction, making it safe, quick and easy for people to access cash.”
The process will be interoperable with any Mastercard member bank making it a scalable option for banks. India will be the first country outside the United States where this product will be available to customers.