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PaySpace Magazine has compiled a selection of the most technologically advanced ATMs of today, when working with which you often do not even need a bank card
The most technologically advanced ATMs of our time.
Three years ago, the ATM celebrated a major anniversary - 50 years since the installation of the first cash dispenser in one of the banks in London. In half a century, ATM has come a long way - from simple machines with cash to high-tech devices with FaceID and a fingerprint scanner. PaySpace Magazine decided to make a selection of the most technologically advanced ATMs of our time, when working with which you often don't even need a bank card.
NCR Kelpie ATM
In the spring of 2019, the American manufacturer of ATMs and payment terminals NCR Corporation presented its new development at the Money 20/20 conference - the Kelpie machine, which allows you to withdraw money without physically interacting with the machine.
To withdraw cash, you must specify the transaction in the mobile banking application, bring your hand to the ATM and take cash. The entire process takes place without touching the ATM screen, by reading the user's unique biometric fingerprint data, which reportedly is not stored in the Kelpie NCR database.
Chinese ATM with biometric authentication.
Bank of China (Hong Kong), the fourth largest financial institution in China, introduced finger vein pattern authentication in 160 ATMs at the beginning of 2018. When registering, the system "remembers" the patterns of the veins, further identifying the cardholder, even if the skin on his finger is damaged.
NAB ATMs with FaceID.
In 2018, the National Bank of Australia (NAB) and Microsoft began jointly developing a system that will allow withdrawals using facial recognition and a PIN. In the future, this cloud system will allow withdrawing money from ATM without the need for a card and phone. However, at the moment the project is still under development and is not presented for public use.
Macau's FaceID ATM.
Typical ATM with FaceID in China. Photo: aws.amazon.com
Face recognition technology has also begun to be applied in three large banks in China - the Agricultural Bank in Jinan City, and the Trade and Construction Banks. To withdraw money, you need to scan a face in the camera, enter a phone number or identification number, specify the required transaction amount and password. It is reported that the technology neutralizes the risk of illegal copying of bank cards and reduces the likelihood of cards being chewed by ATMs.
Also, as part of the fight against money laundering in the special administrative region of China, Macao, more than a thousand ATMs with facial recognition have been installed.
ATM Commercial Bank Ltd.
In early 2019, the Japanese company NEC introduced the NeoFace system, its own flagship artificial intelligence (AI) engine for face recognition. The technology was equipped with ATM machines of Taiwan's largest bank SUN Commercial Bank Ltd, which were then deployed at several points throughout the country. Once registered in the system, users can only withdraw cash using face recognition and PIN.
CaixaBank ATM with FaceID.
Recently, the Spanish bank CaixaBank presented its ATMs with FaceID in one of its branches in Valencia. At the moment, the department has five machines that allow you to withdraw cash without entering a PIN. The equipment captures the user's face image and checks up to 16 thousand checkpoints on it when making transactions. The branch concept will first be tested in Valencia and then implemented in other cities in Spain.
JPMorgan Chase ATM.
Since August 2018, clients of the American bank JPMorgan Chase can receive cash using a mobile wallet at almost all ATMs of financial institutions located in the United States. Clients of the largest US bank no longer need a physical debit card or authentication passcode to withdraw money from an ATM. To receive money, they can simply select the cash withdrawal function in their smartphone app.
Wells Fargo ATM.
Wells Fargo, a large American bank, allows you to use a mobile application to access its ATMs. Clients of financial institutions can withdraw cash without a card by simply entering a special code that will be displayed in the bank's application, or by scanning the card added to the e-wallet using the NFC module installed in ATMs.
In Ukraine, the function of withdrawing money without a card using a mobile application was implemented by Oschadbank and PrivatBank. How it works can be seen below using the example of Oschadbank ATMs in the video from PaySpace Magazine.
These machines are equipped with a keypad with numbers for entering a PIN code and a display at specific tilt angles. It is also noted that such ATMs have better developed means of communication with the customer support service. At the time of this writing, similar machines were located in two Czech cities - Prague and Ostrava.
ATMs for motorists have been installed in Europe.
Lamassu currently produces five cryptocurrency ATMs - Sintra, Sintra Forte, Douro II, Santo Tirso and Braga.
Cryptocurrency ATM Lamassu.
According to the information on the company's website, Lamassu ATMs accept "almost all major currencies in the world" and also support the cryptocurrencies Bitcoin, Zcash, Ethereum, Bitcoin Cash, Litecoin and Dash.
In addition, the machines have a multilingual interface and a translation tool that will translate the ATM UI, adapting it to the needs of a specific language group.
Also in 2017, LocalCoinATM installed its first Ethereum ATMs in three Canadian cities - Toronto, Brampton and Etobicoke. The startup now has an extensive ATM network in the US and Canada.
LocalCoinATM cryptocurrency ATMs.
LocalCoinATM ATMs make it easy to buy or sell Ethereum for fiat money. The devices work in the same way as Bitcoin ATMs. They display the Ether deposit address for sellers and ask buyers for their Ethereum wallet address. You can buy cryptocurrency for the national currency of the country in which the operation takes place.
In addition to improving the quality of service and customer safety, some high-tech ATMs work to the detriment of the financial sector - for example, in Spain, scammers use Bitcoin machines to launder money.
Photo: psm7.com
The most technologically advanced ATMs of our time.
Three years ago, the ATM celebrated a major anniversary - 50 years since the installation of the first cash dispenser in one of the banks in London. In half a century, ATM has come a long way - from simple machines with cash to high-tech devices with FaceID and a fingerprint scanner. PaySpace Magazine decided to make a selection of the most technologically advanced ATMs of our time, when working with which you often don't even need a bank card.
Using biometrics
NCR Kelpie ATM
In the spring of 2019, the American manufacturer of ATMs and payment terminals NCR Corporation presented its new development at the Money 20/20 conference - the Kelpie machine, which allows you to withdraw money without physically interacting with the machine.
To withdraw cash, you must specify the transaction in the mobile banking application, bring your hand to the ATM and take cash. The entire process takes place without touching the ATM screen, by reading the user's unique biometric fingerprint data, which reportedly is not stored in the Kelpie NCR database.
Chinese ATM with biometric authentication.
Bank of China (Hong Kong), the fourth largest financial institution in China, introduced finger vein pattern authentication in 160 ATMs at the beginning of 2018. When registering, the system "remembers" the patterns of the veins, further identifying the cardholder, even if the skin on his finger is damaged.
Artificial Intelligence ATMs
NAB ATMs with FaceID.
In 2018, the National Bank of Australia (NAB) and Microsoft began jointly developing a system that will allow withdrawals using facial recognition and a PIN. In the future, this cloud system will allow withdrawing money from ATM without the need for a card and phone. However, at the moment the project is still under development and is not presented for public use.
Macau's FaceID ATM.
Typical ATM with FaceID in China. Photo: aws.amazon.com
Face recognition technology has also begun to be applied in three large banks in China - the Agricultural Bank in Jinan City, and the Trade and Construction Banks. To withdraw money, you need to scan a face in the camera, enter a phone number or identification number, specify the required transaction amount and password. It is reported that the technology neutralizes the risk of illegal copying of bank cards and reduces the likelihood of cards being chewed by ATMs.
Also, as part of the fight against money laundering in the special administrative region of China, Macao, more than a thousand ATMs with facial recognition have been installed.
ATM Commercial Bank Ltd.
In early 2019, the Japanese company NEC introduced the NeoFace system, its own flagship artificial intelligence (AI) engine for face recognition. The technology was equipped with ATM machines of Taiwan's largest bank SUN Commercial Bank Ltd, which were then deployed at several points throughout the country. Once registered in the system, users can only withdraw cash using face recognition and PIN.
CaixaBank ATM with FaceID.
Recently, the Spanish bank CaixaBank presented its ATMs with FaceID in one of its branches in Valencia. At the moment, the department has five machines that allow you to withdraw cash without entering a PIN. The equipment captures the user's face image and checks up to 16 thousand checkpoints on it when making transactions. The branch concept will first be tested in Valencia and then implemented in other cities in Spain.
Withdrawing funds using a smartphone
JPMorgan Chase ATM.
Since August 2018, clients of the American bank JPMorgan Chase can receive cash using a mobile wallet at almost all ATMs of financial institutions located in the United States. Clients of the largest US bank no longer need a physical debit card or authentication passcode to withdraw money from an ATM. To receive money, they can simply select the cash withdrawal function in their smartphone app.
Wells Fargo ATM.
Wells Fargo, a large American bank, allows you to use a mobile application to access its ATMs. Clients of financial institutions can withdraw cash without a card by simply entering a special code that will be displayed in the bank's application, or by scanning the card added to the e-wallet using the NFC module installed in ATMs.
In Ukraine, the function of withdrawing money without a card using a mobile application was implemented by Oschadbank and PrivatBank. How it works can be seen below using the example of Oschadbank ATMs in the video from PaySpace Magazine.
ATMs for motorists
Some financial institutions issue ATMs tailored to the needs of a specific group of users. So, in the Czech Republic, ATMs appeared, designed specifically for drivers.These machines are equipped with a keypad with numbers for entering a PIN code and a display at specific tilt angles. It is also noted that such ATMs have better developed means of communication with the customer support service. At the time of this writing, similar machines were located in two Czech cities - Prague and Ostrava.
ATMs for motorists have been installed in Europe.
Cryptocurrency ATMs
London-based startup Lamassu Bitcoin Ventures is releasing ATMs that exchange fiat money for cryptocurrency. The company pioneered the crypto ATM industry by introducing the world's first bitcoin ATM in 2013. In the first year, the startup produced more than 250 of these machines, which were delivered to 150 operators in 40 countries.Lamassu currently produces five cryptocurrency ATMs - Sintra, Sintra Forte, Douro II, Santo Tirso and Braga.
Cryptocurrency ATM Lamassu.
According to the information on the company's website, Lamassu ATMs accept "almost all major currencies in the world" and also support the cryptocurrencies Bitcoin, Zcash, Ethereum, Bitcoin Cash, Litecoin and Dash.
In addition, the machines have a multilingual interface and a translation tool that will translate the ATM UI, adapting it to the needs of a specific language group.
Also in 2017, LocalCoinATM installed its first Ethereum ATMs in three Canadian cities - Toronto, Brampton and Etobicoke. The startup now has an extensive ATM network in the US and Canada.
LocalCoinATM cryptocurrency ATMs.
LocalCoinATM ATMs make it easy to buy or sell Ethereum for fiat money. The devices work in the same way as Bitcoin ATMs. They display the Ether deposit address for sellers and ask buyers for their Ethereum wallet address. You can buy cryptocurrency for the national currency of the country in which the operation takes place.
In addition to improving the quality of service and customer safety, some high-tech ATMs work to the detriment of the financial sector - for example, in Spain, scammers use Bitcoin machines to launder money.
Photo: psm7.com
