Mastercard, KAL Partner to Enable Cardless ATM Cash Withdrawal

Mastercard has partnered with KAL ATM Software to introduce two new software innovations designed to provide convenient and secure access to ATM cash anytime and anywhere.

The partnership will integrate Mastercard Cardless ATM and Cash Pick-Up products with KAL multivendor ATM software. According to a press release, the combined offer will provide a seamless self-service banking experience in an increasingly digital landscape.

The Mastercard Cardless ATM concept enables a user to withdraw cash from an ATM using only a mobile phone — no ATM card is needed.

The solution uses a cloud connection and the consumer’s tokenized card information to construct a digitally secure remote payment EMV transaction. This transaction is then used to approve cash withdrawal via standard scheme rules.

This concept allows cardless cash withdrawals from any ATM — not just those of the customer’s own bank.

Mastercard Cash Pick-Up enables customers to send cash to a recipient who does not have a bank account. The recipient receives a unique one-time code via mobile, which the ATM uses in combination with a virtual one-time PAN to deliver the cash. Once again, the concept works globally on an “On us” and “Off Us” basis – which is very powerful for customer convenience.

“Customers now want a seamless user experience across all banking touch points KAL CEO Aravinda Korala said in the press release. Banks are responding to this demand and recognize that, when it comes to customer retention and acquisition, the ATM remains an essential banking channel.

“That’s why this partnership with Mastercard is so important — it is about giving the customer as much choice as possible, as well as providing services for the unbanked.”

Dan Goodman, Mastercard senior vice president and lead of the global ATM product team, agreed: “Mobile technology has an important part to play in the future of banking and ATMs. These initiatives demonstrate the power of physical and digital worlds coming together to provide customers with the most advanced and convenient financial services.”