This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Diebold ATMs Enable Cardless Cash Withdrawal Via Paydiant Mobile Wallet Application

NORTH CANTON, Ohio and WELLESLEY, Mass., July 18, 2013 /PRNewswire/ -- Consumers can now use their smartphones, instead of their debit or credit cards, to withdraw cash from automated teller machines (ATMs). Enabled by a partnership between Diebold (NYSE: DBD) and mobile wallet provider Paydiant, the cardless Mobile Cash Access (MCA) solution gives consumers a more convenient and secure option to interact with their financial institutions, while giving banks and credit unions the opportunity to offer their own branded mobile wallet solution.

(Logo: http://photos.prnewswire.com/prnh/20080725/DIEBOLDLOGO)

The Diebold and Paydiant solution addresses two significant obstacles to adoption: hardware needs and security concerns. The MCA offering allows financial institutions to provide a secure, bank-branded mobile wallet solution without installing additional hardware on ATMs or point-of-sale (POS) terminals. Additionally, Diebold's cardless solution eliminates the threat of card skimming at the ATM. Wintrust Financial Corporation is piloting this solution in partnership with FIS (NYSE: FIS), Paydiant and Diebold.

"As mobile technology proliferates, financial institutions are looking to Diebold for advice on what mobile wallets mean for their businesses," said Diebold's Chief Innovation Officer Frank Natoli. "Diebold brings a longstanding security philosophy and its own digital expertise to the partnership with Paydiant to offer banks and credit unions the technology consumers are looking for - a bridge from digital currency to physical cash. A bank-branded mobile wallet enables our clients to serve their consumers directly, as opposed to allowing third-party brands to capture the mobile share of a consumer's wallet."

The cardless MCA solution allows consumers to pre-stage cash withdrawals on smartphone devices creating a cooperative interaction with the ATM, a feature Diebold highlighted in a concept earlier this year. At the ATM, consumers authenticate themselves by scanning a unique QR code that signals the ATM to dispense cash via an encrypted connection to the cloud.  

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,040.37 +29.69 0.16%
S&P 500 2,111.73 +4.34 0.21%
NASDAQ 5,082.9290 +12.9030 0.25%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs