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Showing posts with the label Instant Money Transfer

Cardless withdrawals from ATM machines – Asia leading the way

Withdrawing money from automated teller machines (ATMs) using a mobile device is the latest milestone in the trend of more buying and usage behavior migrating to mobile devices. The  Bank  of India recently became the first state-run lender to allow withdrawal of funds from its ATMs across India, without needing to own a bank account. The Instant Money Transfer (IMT) service further allows any customer of the bank to transfer money using the receiver’s mobile number and a passcode sent via a text message. Singapore’s United Overseas Bank (UOB) also offers the transfer of funds via any mobile number. The money received can be withdrawn from any UOB ATM, credited into a UOB account or used to top up a cash card. https://www.spireresearch.com/newsroom/spirethoughts/cardless-withdrawals-from-atm-machines-asia-leading-the-way/