Banking systems provider SIX is to offer more contactless ATMs in Switzerland to alleviate concerns about infections during the pandemic.

SIX says the number of ATMs that offer contactless cash withdrawals increased by 26 per cent globally in 2019, with the pandemic further accelerating this trend.

Two technologies are relevant for contactless ATM transactions, it says: transactions via QR codes and those through near field communication (NFC). “More and more ATMs are equipped with one or both of these technologies”, it says.

In Switzerland, as of November 2020, SIX said 36 per cent of all ATMs in the country were already equipped with QR code readers and 20 per cent with NFC readers.

In 2020, the number of transactions with QR codes at ATMs increased by 269 per cent. And with regard to NFC functionality the banks there have now started an implementation project at ATMs with SIX.

SIX also enables bank branches to offer cash services using a QR code. The first banks in the country have implemented a system which generates QR codes via mobile banking. QR codes can also be sent to third parties.

Marco Menotti, head of SIX banking services, said: “SIX is supporting the banks in this process and is taking on a coordinating role to successfully accompany the unprecedented transformation of the cash economy towards an ecosystem with an open architecture and increasingly user-centric, digitised cash services.

“The QR codes are the next step in further digitising the Swiss financial sector and payments generally.”

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