Contact Less Cash Withdrawals ... No need to Swipe Your Card in a Reader | Barclays New Service

As if tapping together two Android phones to transfer photos and other shareable data was not enough, the NFC or Near Field Connectivity is seeing a big leap forward. If this experiment proves successful then many of us will be tapping our Android Phones on card readers and Cash Machines (Cash dispensers such as ATMs).
The news is that banking Giant Barclays has launched contact less cash machines.
The Barclays contact less cash machines lets you take money out using just your phone. As said the contactless technology uses NFC and allows the user to complete a transaction without using a Card. Yes, there's no need to put a card in a machine. All you've to do is tap your Android phone on the machine. Thus you can make a transaction without a Card.
How does this Contact less Cash withdrawal work?
The new service is being rolled out in the north of England, but will be available at 600 cash points across the country the next year.

Contact Less Cash Withdrawals Barclays new service

If we want to understand the technology in simple then we can see it like this: In Barclays Contact less Cash withdrawal or contact less banking transactions (if we want to include other banking transactions as well), the user simple has to tap his/her android phone on the machine, instead of swiping or inserting a card in the machine.

If the experiment proves successful then we will be seeing such tapping to pay for transactions at POSs as well.

To summarize, right now you need especially designated vending machines and POSs readers to make use of this new service.

Is This Technology Safer than the existing swipe your card in the machine?

In one way we can say so. As the Bank has put one more authentication wall in the banking transaction process. Now you will need your phone and your Card PIN. If the biggest card hacks in recent times are being done by reading data of your card through skimming devices attached to the machines or readers, then the new service which saves you from physically inserting your card into the machine surely makes more sense. As the fraudsters with the present levels of tech will not be able to read the card data, or physically steal the card.

 But still it's too early to talk about safety because in the new service we are still sharing some data with the reader in such machines.

Will the new tech make the banking transactions faster? ... Cannot say for sure. But with faster connectivity, the new service will be faster than the existing one, as it is brining an already authenticated mobile phone & number into the picture. It also doesn't want you to take extra effort to take out your card from your wallet and swipe it. Means a user doesn't  need to authenticate his mobile device, the associated number, and card every time he makes a transaction.

The service is still in experimental phases, hence the withdrawal facility is functional during Bank working hours only. That too from Barclays ATMs located inside branches.

How People will be using Barclays new service:

  1.  With a contact less card - Tap your card on the machine’s reader; enter card PIN on machine and follow the on-screen instructions to complete cash withdrawal.
  2. With an Android smartphone – Tap your phone on the machine’s reader; and after that follow the instructions on your phone to complete cash withdrawal.
  3. With Barclays Mobile Banking - Open Barclays Mobile Banking and select ‘Contactless Cash’; Select withdrawal amount, follow instructions, enter card PIN; Tap Android phone on machine’s contact less reader within 30 seconds to complete cash withdrawal.
Phone or Mobile Device with SIM Card Compatibility

At present You need an Android smartphone with NFC capabilities. 
In future Barclays plans to bring the new service for iPhone users as well. For that you will have to wait for 2017.


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