FIS and Co-op Financial Services have partnered to offer FIS Cardless Cash, a mobile solution that allows ATM users to withdraw funds without a plastic card.
A cardless cash function will be added to the menu of terminal driving services for Co-op ATMs in a pilot test beginning in Q1 2017, according to a press release. The Co-op nationwide ATM network offers surcharge-free access to cash and other ATM services for members of participating credit unions.
FIS Cardless Cash is an interoperable platform that enables financial institutions, ATM operators and networks to provide consumers with quick, simple and secure access to their money.
The service launched in January 2015 and currently is used by 35 financial institutions in U.S. cities. With the addition of the Co-op network, the service will soon be available at more than 100,000 ATMs nationwide.
FIS Cardless Cash leverages FIS Mobile Banking with TouchID, to give consumers secure cardless access their funds at ATMs. Consumers who use the mobile banking app to prestage a withdrawal can generally complete their transaction at the ATM in less than 10 seconds, with an electronic receipt delivered to their smartphone.
“Adding Co-op ATM locations and credit union members to our cardless cash ecosystem brings more convenience and more security to more users,” said Douglas Brown, senior vice president and general manager of FIS Mobile. “We want to make mobile-centric access to cash a ubiquitous experience.”