It's an innovation that could spell the beginning of the end for the humble bank card.
Using your bank card to get cash? Pshh, that’s so 2015.
Barclays next month is launching a new feature next month that’ll let customers make a withdrawal just by tapping their smartphone against a cash machine.
The technology works in harmony with Barclays Mobile Banking app – which we named best mobile banking app of 2016 – using the NFC technology in modern smartphones.
It uses the bank’s latest cash machines that have the wireless tech built-in and are being rolled out to branches in the northeast.
It also works with Barclays bank cards that have the same technology, using the new cash points you’ll be able to just tap your card against them to begin a withdrawal (once you’ve entered your PIN).
By January Barclays hopes to have about 500 of the new ATMs across 200 bank branches, with a wider roll-out on the high-street later in 2017.
But why go to all this trouble? Barclays says this technology is actually more secure than putting your bank card into an ATM, as there’s no risk of your details being swiped by a skimming machine.
It’s not quite the first time we’ve seen card-less ATM cash withdrawals, NatWest and RBS have let customers with their smartphone app make emergency withdrawals by entering a specific code from their app into an ATM for a few years now.
But Barclays is taking this idea to the next level by embracing the latest technology to make wireless withdrawals the norm.
With mobile payments like Apple Pay and now wireless withdrawals, I’m calling 2017 the beginning of the end for the humble bank card. RIP.
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