Barclays unveils contactless cash withdrawals
Barclays is launching the UK’s first contactless mobile cash service, offering customers a quicker, more secure way to withdraw their money.
The service is initially being piloted in the north of England before rolling out to more than 180 Barclays branches in the New Year. It will be available on more than 600 in-branch ATMs, allowing customers to withdraw cash with just a tap of their smartphone or contactless debit card.
Customers using the Barclays Mobile Banking (BMB) app on Android devices can save time by logging in to pre-select the amount of cash they want to withdraw and inserting their PIN. They then have 30 seconds to tap their phone against the contactless reader on the machine, which will automatically dispense their cash.
Alternatively, customers can tap their Android smartphone or contactless debit card against the contactless reader, before entering their PIN on the ATM and withdrawing their cash as normal.
While giving many customers access to cash using only their smartphone, contactless cash also boasts increased security. Whether using your smartphone or card, it removes the risk of magnetic card skimming and distraction fraud, as the device never needs to leave your hand.
We are always looking for new ways to make our customers’ lives easier and their finances even more secure.
CEO of Barclays UK
While giving many customers access to cash using only their smartphone, contactless cash also boasts increased security. Whether using your smartphone or card, it removes the risk of magnetic card skimming and distraction fraud, as the device never needs to leave your hand.
Ashok Vaswani, CEO of Barclays UK, said: “We are always looking for new ways to make our customers’ lives easier and their finances even more secure. Our customers now expect to be able to use their smartphone to make their everyday purchases. We want taking out cash to be just as easy. With contactless cash customers can quickly and securely take out money with just a tap of their smartphone – a first for the UK.”