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FIS Cardless Cash Access Enables Cash Withdrawal From ATMs Using A Secure Smartphone App, Eliminating The Need For A Plastic Card.

Stocks in this article: FIS

Expanding on its leadership and innovation position within mobile financial services, FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced the pilot of its innovative Cardless Cash Access solution by Wintrust Financial Corporation. The latest advancement to the FIS Mobile Wallet platform, delivered in partnership with Paydiant and Diebold Incorporated, enables consumers to withdraw cash from ATMs using just a smartphone.

“Consumers are increasingly mobile and rarely leave home without their smartphone,” said Douglas Brown, senior vice president and general manager, FIS Mobile Financial Services. “At FIS, we are continuing to invest in solutions that keep mobile consumers better connected to their finances. Through Cardless Cash Access, FIS is providing secure innovation that places the smartphone at the center of the financial transaction. We’re delivering on our goal of supporting a mobile-centric market. ”

The FIS Mobile Wallet with the new Cardless Cash Access solution securely authenticates a user on their smartphone. Once authenticated, the user scans the QR code provided on the ATM screen and selects the account and amount of the withdrawal directly on their smartphone. The solution delivers an e-receipt to the smartphone app after cash is dispensed from the ATM. Unlike mobile cash access models that utilize temporary authorization codes, the FIS Cardless Cash Access solution utilizes the security within the user app authentication process and registration of the FIS Mobile Wallet app on the smartphone, therefore eliminating card skimming risk and fraud incidents for banks and their customers.

“Wintrust is community banking at heart, so service is our number one goal. Technology needs to follow that very closely.” said Tom Ormseth, EVP of Retail Strategy at Wintrust Financial. “Delivering Cardless Cash Access definitely supports our strategy of providing top quality and innovative services, and enables us to deliver on our promise to our customers – ‘HAVE IT ALL.’”

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