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Cash Withdrawals from ATMs using Mobiles
By: Tupaki Desk | 4 Jan 2017 8:21 AM GMT
Reserve Bank of India (RBI) is mulling to change the existing ATMs in the country to offer better service to the citizens. It is now studying the latest technology that's been used in developed nations.
Actually, Debit Card & Four Digit PIN is a must to withdraw cash from ATMs. A new technology facilitates withdrawals of cash from ATMs by just using the smartphone. Already, America, China, Australia, Singapore and few European Countries have been implementing it.
RBI wishes to recalibrate the ATMs in such a manner to dispense cash with mobile within the next 7-8 months. People need to download the App of their respective banks to use this facility and enter the ATM cards details once. To withdraw cash, They just need to open the App, enter the amount they wish to receive, take the mobile close to the ATM so that the QR Code could be tracked to complete the transaction.
Actually, Debit Card & Four Digit PIN is a must to withdraw cash from ATMs. A new technology facilitates withdrawals of cash from ATMs by just using the smartphone. Already, America, China, Australia, Singapore and few European Countries have been implementing it.
RBI wishes to recalibrate the ATMs in such a manner to dispense cash with mobile within the next 7-8 months. People need to download the App of their respective banks to use this facility and enter the ATM cards details once. To withdraw cash, They just need to open the App, enter the amount they wish to receive, take the mobile close to the ATM so that the QR Code could be tracked to complete the transaction.
