A similar system has been developed by cash machine operator NCR. This requires users to scan a barcode to withdraw the money.The services are the latest developments in a long-predicted move towards the smartphone becoming a digital wallet. Barcodes and scanning seem to becoming more applicable and found everywhere, I like the idea of being able to use my phone as a digital wallet instead of using my standard wallet everyday.” Said the director at A Vision Network.
RBS said that its new system would help customers who had forgotten their bank cards, or who wished to send cash to family members in a hurry.It would also allow the people to leave their wallets at home in favour of taking a mobile phone, it suggested."It is a really simple and secure way to help our customers get cash whenever and wherever they need it," said Ben Green, head of mobile at RBS and NatWest.
The service is available to customers who have downloaded the bank's free app and use the 8,000 RBS, NatWest or Tesco branded ATMs in the UK. Some 2.6 million people have installed it on their smartphone so far, the bank said.At present, customers using a card can withdraw up to £300. Initially the limit on the cardless withdrawal will be £100.
This basically will try to prevent thieves from looking over the user's shoulder to steal the code and access their account information. The system is an extension of a RBS service that allowed people whose card had been stolen to access emergency cash from an ATM. “I like the idea of how the app will stop thieves from seeing the code to access the account, But I will also like to see the app develop in the near future.” A source from A Vision Network.
