US Banks To Test ATMs Which Accept Your Smartphone Instead Of Cards (ibtimes.co.uk)

Dozens of banks in the US are updating their ATMs, or installing new ones, in order to allow customers to withdraw cash without using bank cards. A new cardless system will be rolled out at around 2,000 cash machines across the US, operated by at least 28 banks, including giants like Wells Fargo, Bank of America and Chase. Under the new system, people can order cash on an app on their phone, and then scan a code at the ATM to receive their money, all without inserting a card or entering a PIN. The developers of the system insist that smartphone technology makes for faster and more secure transactions. More banks are expected to adopt the technology soon.

Comments

Re:Sounds a bit sketchy...

[TapeCutter]

Many people in poor nations do not have access to banking facilities but they do have a mobile phone. Paying for things via your phone (as opposed to a card) is the normal way of doing business for a large chunk of the world's population.

This is a game of pass the buck.

[kuzb]

Now it won't be their system which is insecure, it'll be your phone. This gives them another layer of defense against their often laughably bad security.