13/10/2011
By Scott Thompson
NCR is working with PayPal and S1 Corporation to enable real-time person-to-person payments from ATMs.
The service will initially be available in the US with the ability to send money to people in more than 60 countries around the world. After authenticating themselves at the ATM, consumers will have an option to send money to an individual. To do so, they will enter the recipient’s email address or mobile number, choose an amount to transfer, and the money will be immediately credited to the recipient’s PayPal account. If the receiver does not have a PayPal account, they will need to set up an account in order to receive the funds.
“The ATM channel continues to play a powerful role in delivering new, multi-channel financial services to consumers,” says Michael O’Laughlin, senior vice president, NCR Financial Services. “Whether it is deposit automation, bill payment, money transfers or a variety of new and exciting products and services, NCR SelfServ ATMs provide a secure, trusted, and ever-present point-of-presence for the exchange of value by a bank or credit union’s customers and members. This solution is just an early foray by NCR to extend person-to-person payments options around the world.”
The offering will be available to banks running on the S1 payment platform and using NCR APTRA Edge in the US. It is set to be available in the first quarter of 2012.“Financial institutions are always looking to strengthen their relationships with their customers through new services as well as generate new streams of revenue,” says Francois van Schoor, divisional president, S1. “This ATM-based person-to-person payments transaction will allow financial institutions to give their customers convenient and trusted access to an important service while maximising the value of their self-service network.”
