Sunday, May 22, 2022

No Touch: You can withdraw money without touching the ATM machine, this government bank has started the facility

In the midst of the Corona crisis, social distancing is being considered the best way to prevent this serious disease. In the last year, with the help of technology, efforts are being made to make everything contact-equipped. Meanwhile, we have got QR codes, Wallet, UPI, and contactless debit and credit card technology to make payments. But still, we have to touch the ATM machine to get the cash. Although some banks provided the facility of contactless banking, you had to touch the machine to actually give the command. 

But now the ever-advancing technology has made this possible too. Now with MasterCard ATM card users can withdraw money from ATM machines without touching it. According to the news published in the English newspaper Mint, this Mastercard has tied up with ATM maker AGS Transact Technology. With this technology, the user can do 100% contactless transactions. 

Read More: If the person who took the loan dies, can the bank do the coercion? Who will return the loan?

How will the contactless transaction happen? 

According to the company, with this new technology, ATM transactions have become completely contactless. For this, users will have to scan the QR code of the ATM machine from their mobile app. After scanning, all the ATM options will come on the phone and further process will have to be done on the phone. After this, you have to enter the PIN and amount of the debit card on the phone. Once the process is completed, the money will be withdrawn from the ATM machine. 

Bank of Baroda started the facility

This technology of AGS technology was first adopted by the Bank of Baroda. Now withdrawing money from ATMs has become 100% contactless. For this, slight changes have been made in the software of bank ATMs. Apart from this, changes have also been made to the ATM switch. The company has also presented its technology to NPCI.



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