Need cash at the ATM? No need to insert a card ..

In the United States, "cardless" automatic teller machine (ATM) is gaining ground with smartphone technology allowing for speedier and more secure transactions. US banking giants - Wells Fargo, Bank of America and Chase are leading this race at the current moment. New ATMS are being installed or existing ones are being updated to allow customers to order cash on a mobile app and then scan a code to get their money without having to insert a bank card.
Many Mobile technologists feel model of using smartphones is reducing a lot of security vulnerabilities:-
1. In addition to speeding the transaction time, the smartphone-based system aims to curb the growing problem of "skimming", in which criminals steal the data on a card, often by inserting devices into the ATM card slot. By some estimates, skimming cost the global banking industry some US$2 billion (S$2.8 billion) in 2015 and can lead to other kinds of fraud when card data is stolen.
2. Another security benefit is that authenticating on the handset reduces the time spent at the ATM to around 10 seconds instead of the typical 30 to 40.
Developing a new cardless ATM solution based on NFC or near field communication technology, to allow customers to authenticate without the use of a card is also in progress. Some banks work in the model by which customers will be able to request an access code / 8 digit token through the mobile app and enter it at the ATM to do transactions. ATM manufacturer Diebold is testing a "headless" teller machine, without a screen or keypad, which dispenses cash from interaction on the smartphone. 
HERE'S another use for the smartphone as it invades daily life: in place of your debit card at your bank cash machine !!!
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