A woman uses an ATM machine at a branch of Thanachart Bank in Nonthaburi province, on the outskirts of Bangkok, Thailand, February 19, 2016. REUTERS/Chaiwat Subprasom
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WASHINGTON: Here's another use for the smartphone as it invades daily life: in place of your debit card at your bank cash machine. The "cardless" automatic teller machine is gaining ground in the U.S. and around the world, with smartphone technology allowing for speedier and more secure transactions. Another security benefit, Brown said, is that authenticating on the handset reduces the time spent at the ATM to around 10 seconds instead of the typical 30 to 40 secondsWells Fargo is also on board, developing ATMs that will allow customers to use their smartphones to obtain and eight-digit token to authorize a cash withdrawal.Chicago-based BMO Harris, an affiliate of Bank of Montreal, began using smartphone technology at its 750 ATMs last March.Some of the new technologies will require only a software update to the ATM, while others will need new hardware.ATM manufacturer Diebold is testing a "headless" teller machine, without a screen or keypad, which dispenses cash from interaction on the smartphone.
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