The concept is an ATM without a PIN pad, card reader, or screen. All transactions take place via a mobile app on the user’s smartphone using near field communication (NFC) and quick response (QR) code technology while customer authentication uses iris scanning from EyeLock to identify the user at the ATM.
A customer signs into their banking app on their phone or tablet and determines how much money they want to take out. Once the withdrawal is input, the customer can go to any EyeLock-equipped ATM on the network to complete the transaction. They would simply approach the machine, which scans the iris of his or her eye to quickly verify identity, and the ATM dispenses the correct amount of cash.
The Paypers. All rights reserved. No part of this site can be reproduced
without explicit permission of The Paypers(V2.3).