The idea of card-less ATM is a bit of a radical thought. However, in the near future, the multitasking mobile phone could also be the equivalent of owning a bank account. The cell phone is likely to replace good old ATM cards as the instrument to withdraw or deposit cash. Some banks are already piloting the technology and commercial deployments may begin later this year.
ICICI Bank, for instance, has been experimenting with card-less transactions, although it is not known which company’s technology platform they use. The bank has recently launched, on a pilot scale, a new technology that allows card-less remittance.
Bengaluru-based mobile payment solution provider mChek is one firm working with banks in India and abroad to roll-out its card-less technology platform. The firm, which had thus far focused on mobile bill payment, recharge, flight bookings, and movie ticketing, says mobile phones can be the second level of authentication, beyond passwords, for establishing identities. Using two levels, rather than just one, implies a greater level of assurance. [Read story at searchandhra.com].
ICICI Bank, for instance, has been experimenting with card-less transactions, although it is not known which company’s technology platform they use. The bank has recently launched, on a pilot scale, a new technology that allows card-less remittance.Bengaluru-based mobile payment solution provider mChek is one firm working with banks in India and abroad to roll-out its card-less technology platform. The firm, which had thus far focused on mobile bill payment, recharge, flight bookings, and movie ticketing, says mobile phones can be the second level of authentication, beyond passwords, for establishing identities. Using two levels, rather than just one, implies a greater level of assurance. [Read story at searchandhra.com].
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