Going 'Cardless': City National Pilots Mobilized ATMs
Why bother? According to the companies, the cardless method eliminates the risk of card skimming and bank fraud. It allows the user to interact with the machine in private and eliminates paper receipts.
FIS Cardless Cash Access uses an app to securely register and authenticate the customer's smartphone. The account information is not stored on the phone itself but in the cloud, so card data cannot be accessed from a lost or stolen phone.
The pilot will begin in these three test market early next year. City National says that the program gives consumers a faster and more secure method of getting cash and relating to the ATM machine itself.