PayPal paved the way when it came to online transactions, but it clearly wants to be everywhere consumers are – and the ATM is one of those places. On Monday, it announced FIS would use technology from PayPal subsidiary Paydiant to help bring “Cardless Cash” to 70,000 ATM locations thanks to a new partnership between FIS and Payment Alliance International.
Cardless Cash means consumers can use their mobile device and their bank’s mobile app to withdraw funds from an ATM instead of inserting their bank card into the machine.
Cardless Cash protects consumers by reducing risk of card skimming and shoulder surfing, both of which are on the rise at ATMs, FIS said. Customers can complete their withdrawals in 10 seconds and get an electronic receipt on their smartphone.
You can see a demonstration in this YouTube video.
PayPal wrote, “This new collaboration between FIS and PAI is another way in which the Paydiant team is working to contribute to PayPal’s vision of providing consumers and businesses with easy and secure ways to transact in-store, in-app, or online anytime they want.”
Thanks to acquisitions it has made over the years, PayPal may keep popping up in unexpected places.