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.
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.