In what may be a harbinger for the further development of payments everywhere, Australia and New Zealand Banking Group Limited (ANZ) and NCR will introduce what they call the world’s first EMV secure ATM “Tap & PIN” Near Field Communication solution that reads card data without having to insert the card in the reader—which helps to increases defense against skimming.
ANZ Australia CEO Philip Chronican says: “The growing dependence on technology means customers want simpler and faster ways to bank, but they also want to know their money is secure. This ‘Tap & PIN’ technology will go a long way in the fight against card skimmers and to make banking safer and easier for customers.”
This solution will also speed up the ATM transaction and scale to integrate future NFC and contactless devices for authentication and pre-staging transactions at ATMs, using a mobile phone or other portable devices. This will allow customers to preprogram their mobile device with the value and denomination for the cash they want to withdraw.
“NCR is working closely with financial institutions to understand the challenges they face and introduce innovative technology to address them. This first-ever EMV-encrypted ATM technology reiterates our commitment,” says Andrew Brown, NCR region director for financial industry.
No indications are given for possible migration of the technology to the United States.