Mastercard has entered into a collaboration with NCR Atleos and ITCARD to enhance contactless experiences at automated teller machines (ATMs).

This partnership is designed to enable cardholders to withdraw cash using their mobile devices, thereby offering a more efficient, secure, and modern ATM experience.

In an era where many people prefer digital lifestyles and often leave their wallets at home, the need for advanced and secure ATM services is becoming increasingly significant. This new approach will allow cash withdrawals using a smartphone without requiring a PIN entry.

Details of the Mastercard x NCR Atleos x ITCARD Partnership

According to an official press release, several European countries such as Poland, Switzerland, the Czech Republic, and Austria have already equipped ATMs with contactless capabilities. However, the current process often involves entering a PIN in addition to using biometric authentication through mobile wallets, which can be cumbersome.

The Consumer Device Cardholder Verification Method (CDCVM) streamlines this by integrating mobile device verification for both contactless payments and ATM transactions. Users authenticate themselves on their phones before proceeding with the ATM transaction, thus simplifying interactions while maintaining security.

By leveraging biometric authentication via smartphones at ATMs, these companies aim to enhance the user experience without compromising security standards. Additionally, financial institutions are committed to addressing customers’ needs and preferences in a dynamic market environment, all while adhering to regulatory requirements and industry laws.