No PIN, no card: The future of ATMs is mobile app led
A QR code, an iris scanner, and a cash dispenser slot helped by NFC. These are the only things that future ATMs are likely to have. That gets rid of PIN pad, card reader, a screen or for that matter the need of carrying an ATM card. The smartphone becomes the interface.
Citibank is testing the prototype, called Irving, at its innovation lab in New York. Designed by Diebold, one of the leading ATM and software provider, the prototype uses technology developed by iris-based identity authentication solutions and software provider, EyeLock.
According to the New York based EyeLock’s Chief Marketing and Business Development Officer, Anthony Antolino, the age of carrying plastic cards and remembering passwords is just about over and “the era of unfettered personal access through biometric technology is just beginning.”
“For banking and other applications, EyeLock’s iris identity authentication solutions are not only highly secure, but very easy to use.”EyeLock was acquired by automotive and consumer electronics major, VOXX International in September last year for US$20.2 million.