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In this article, we will consider what are the advantages of contactless ATMs, how to use them and which banks provide the ability to withdraw money without having to insert a card into an ATM
Contactless ATMs are not a new phenomenon for Ukraine. However, during the quarantine period, the relevance of these devices increased significantly. Trying to minimize contacts not only with cash, but also with plastic cards, many remembered the existence of contactless ATMs and began to ask their servicing bank about the availability of such in its ATM network. However, until now, only a few Ukrainian banks provide the opportunity to use ATMs with NFC support. We figured out which banks they are, and also figured out how to use contactless ATMs and what are their advantages.
Another prerequisite for the popularity of contactless ATMs is the rapid development of contactless payments in Ukraine in recent years and the growth in the number of transactions using contactless cards and NFC devices. So, according to the NBU, as of January 1, 2020, more than a quarter (26.5%, which is 11.2 million pieces) of active payment cards in Ukraine were contactless and tokenized cards. At the same time, the number of contactless cards in 2019 more than doubled - from 3.9 to 8.6 million pieces. Also, Ukraine is not the first year among the leaders in the world in terms of the number of NFC transactions.
Well, for those who use cards that are not equipped with NFC technology, there is a conventional card reader in contactless terminals.
There are also myths about the NFC technology itself - allegedly fraudsters can intercept data from a distance. However, the range of the technology is about 10 cm. Therefore, it is impossible to intercept information with 90% probability.
An example of a contactless ATM: Raiffeisen Bank Aval.
But the first ATM with an NFC-module was installed in June 2016 in Lviv as part of the Alfa Jazz Fest 2016. It belonged to UniCredit Bank. A little later, in the summer of the same year, the bank installed a contactless ATM in Kiev.
Three years later, in 2019, three large banks at once began to actively develop a network of contactless ATMs - Raiffeisen Bank Aval, Alfa-Bank and Oschadbank.
We decided to demonstrate how easy and convenient it is to withdraw money from a contactless ATM
Contactless ATMs are a modern solution for card transactions. For the client, this is additional convenience and safety. And for banks, the creation of a network of ATMs with an NFC-module is another important step in the implementation of contactless technologies in banking products.
Contactless ATMs are not a new phenomenon for Ukraine. However, during the quarantine period, the relevance of these devices increased significantly. Trying to minimize contacts not only with cash, but also with plastic cards, many remembered the existence of contactless ATMs and began to ask their servicing bank about the availability of such in its ATM network. However, until now, only a few Ukrainian banks provide the opportunity to use ATMs with NFC support. We figured out which banks they are, and also figured out how to use contactless ATMs and what are their advantages.
Another prerequisite for the popularity of contactless ATMs is the rapid development of contactless payments in Ukraine in recent years and the growth in the number of transactions using contactless cards and NFC devices. So, according to the NBU, as of January 1, 2020, more than a quarter (26.5%, which is 11.2 million pieces) of active payment cards in Ukraine were contactless and tokenized cards. At the same time, the number of contactless cards in 2019 more than doubled - from 3.9 to 8.6 million pieces. Also, Ukraine is not the first year among the leaders in the world in terms of the number of NFC transactions.
Benefits of contactless ATMs
Users note a number of advantages when using contactless ATMs:- Reliability: you do not let go of the card, which means the risk of forgetting it in the device or somewhere nearby is reduced. Also, the card will not remain inside the ATM in case of technical problems.
- Speed: Card identification is faster.
- Security: all contactless transactions are protected by the EMV standard.
If we also talk about topical issues of infection with coronavirus and other viruses through the plastic surface of the card, then when using contactless ATMs, this risk is significantly reduced, since there are fewer contacts of the card with the external and internal surfaces of the ATM. - Extending the life of the card: there is no need to constantly insert the card into ATMs.
- Convenience: to withdraw cash, you just need to bring the card or smartphone to the NFC reader and enter the PIN code.
Well, for those who use cards that are not equipped with NFC technology, there is a conventional card reader in contactless terminals.
Is everything really that safe?
If earlier fraudsters used special overlays to intercept card data from a magnetic stripe, then overlays are not used on a contactless reader. Therefore, the most important thing to pay attention to when using a contactless ATM is the moment of entering the PIN code. First, check the keyboard for foreign objects. Second, cover the keyboard when entering the PIN code with your hand. Such universal rules for working with all ATMs will keep the funds on the card safe.There are also myths about the NFC technology itself - allegedly fraudsters can intercept data from a distance. However, the range of the technology is about 10 cm. Therefore, it is impossible to intercept information with 90% probability.
An example of a contactless ATM: Raiffeisen Bank Aval.
How it works
- Take a card or smartphone (watch, bracelet) that support NFC contactless technology.
- Make sure the ATM has an NFC tag. It can be located on the device itself or on the card reader.
- Attach your card or smartphone and enter your PIN.
Which banks have installed contactless ATMs
The world's first contactless ATMs were installed by the Spanish bank la Caixa in April 2011 in Barcelona, Sitges and Palma (Spain). The first contactless cards have just appeared in Ukraine this year.But the first ATM with an NFC-module was installed in June 2016 in Lviv as part of the Alfa Jazz Fest 2016. It belonged to UniCredit Bank. A little later, in the summer of the same year, the bank installed a contactless ATM in Kiev.
Three years later, in 2019, three large banks at once began to actively develop a network of contactless ATMs - Raiffeisen Bank Aval, Alfa-Bank and Oschadbank.
- Raiffeisen Bank Aval installed the first devices of such a plan in the summer of 2019. Today their number is 774. ATMs work with Visa and Mastercard, but support for gadgets is not yet available.
- A few months later, Alfa-Bank also joined Raiffeisen Bank Aval, installing 121 contactless ATMs throughout the country. Holders of contactless cards or devices with NFC have access to services such as viewing the balance, obtaining a mini-statement, replenishing the card, transferring to the Alfa-Bank card, connecting the SMS informing service and, of course, withdrawing cash.
- At the end of 2019, Oschadbank also installed its first contactless ATMs. Their network was soon expanded to 110 devices. So far, only contactless cards of all banks are accepted, but service via smartphones and other devices is in the process of implementation.
We decided to demonstrate how easy and convenient it is to withdraw money from a contactless ATM
Contactless ATMs are a modern solution for card transactions. For the client, this is additional convenience and safety. And for banks, the creation of a network of ATMs with an NFC-module is another important step in the implementation of contactless technologies in banking products.
