KAL software is now running on a new generation of ATMs referred to as “mobile ATMs”. This class of ATM is designed to provide banking customers with a faster and more secure way to withdraw cash.
The mobile ATM, which is now being introduced in selected markets around the world, does not require the customer to insert their bank card to get cash. Instead, the customer pre-orders cash on their mobile phone and then scans a one-time code at the NFC-enabled contactless card reader at the ATM.
Cash is then dispensed in around 10 seconds – considerably faster than the typical 30 to 40 seconds it takes when using a card.
As well as providing quicker cash withdrawal, the mobile ATM dramatically cuts down on skimming fraud and other ATM crime by eliminating the need to use a card. The mobile ATM can also be used to dispense emergency cash when the customer has lost their card or it has been stolen or cancelled following fraudulent activity.
In addition, money transfers are possible where transfers can be pre-staged on a smartphone and fulfilled at the ATM, and mobile ATMs also allow for infinite third party transactions because customers are using a mobile app.