Cloud-based payment solutions provider, Empays Payment Systems India has partnered with Mastercard to launch contactless ATM solution in India due to COVID-19 pandemic. Under the partnership, Mastercard will help Empays to launch ‘Cardless ATM powered by Mastercard.
Click Here To Get Test Series For SBI PO 2020
The initiative will help users to digitally locate the nearest enabled ATM and initiate a withdrawal by following these 4 simple steps:
- Open banking app
- Scan QR on ATM
- Authenticate withdrawal amount on the banking app
- Pick-up cash from ATM.
Through this initiative, users can withdraw money without the need to insert the physical debit/credit card into the ATM. After the USA, India is the only other country to make such contactless ATM facility available to users.
Important takeaways for all competitive exams:
- Mastercard Headquarters: New York, U.S.
- Mastercard President and CEO: Ajaypal Singh Banga.