US payments forum releases contactless ATM guidelines

27 de diciembre, 2018

Tiempo estimado de lectura: 2 minutos

The US Payments Forum, an organization made up of payments firms including Amex, Apple, FIS, Fiserv, Mastercard, and Visa, published a guide for ATM owners and operators on how to accept contactless transactions at ATMs

The guide, which is intended to spearhead contactless implementation at ATMs in particular, focuses on contactless transactions, including those made with contactless cards and NFC-enabled mobile wallets. It outlines the basics of required hardware and software, certification, testing and approval requirements to support contactless transactions. This focus on contactless ATMs was prompted by the fact that 85% of US ATMs now accept EMV chip cards, and the US Payments Forum wants to make ATM transactions easier — and even more secure.

ATMs have historically been a large fraud target, but contactless technology could help curb that. Some US firms have already begun implementing contactless ATMs: JPMorgan Chase and Wells Fargo are adding cardless ATMs to some of their branches, for example. JPMorgan Chase started adding cardless ATMs to some of its branches, enabling customers to access cash by using Apple Pay, Google Pay, and Samsung Pay through the Chase mobile app at nearly 16,000 of its ATMs in the US. And other US banks, like Wells Fargo and Fifth Third Bank, have deployed NFC technology at their ATMs to allow for cardless withdrawals as well. Beyond making ATM usage quicker for customers — cardless ATMs can decrease transaction time from 45 seconds to 10 seconds — contactless transactions can be a further step in preventing ATM fraud, which makes up 85% of debit card fraud in the US. Further, the most common type of ATM fraud is skimming, in which a device steals information off an inserted card, so eliminating the need to physically insert a card can decrease instances of card skimming to accelerate the decline that the EMV migration has largely achieved.


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