Remittance company Viamericas Corp. and Pin4, an independent cardless cash ATM network, have completed a partnership initiative targeting the U.S. P2P payments market.
The initiative integrates Pin4 cardless cash withdrawal technology with the Vianex digital money transfer platform from Viamerica, the companies said in a press release.
“Fund transactions are inarguably shifting toward digital P2P methods,” said PIN4 CEO Richard Witkowski. However, he added, “cash remains an important form of payment. … So, in a digital financial world such as ours, you still need to offer a safe, secure way for anyone to access cash. This is where Pin4 comes in.”
The Pin4 cardless cash network uses patented dual-PIN authentication to deliver cash in real time to consumers at enabled ATMs without the use of a debit or credit card. Pin4 entered the U.S. market last October; its growing network now includes ATMs in 46 states, the company said.
Pin4 technology offers a new revenue channel for ATM owners as well as a benefit for Viamericas customers who can easily withdraw payments using the network, according to the release.
“The P2P payments market is an incredibly attractive business opportunity for many entities,” said Paul Dwyer, CEO, Viamericas. “However, to enter that market swiftly may prove challenging.”
Vianex streamlines market entry with its one-stop solution encompassing the full supply chain of processes, licenses, and partner networks, the company said.
“With Pin4, our U.S. payout network now has the potential to grow … to include a considerable portion of the more than 425,000 ATMs operating nationwide. That’s a differentiating, future-proofing benefit we’re pleased to offer our customers,” Dwyer said.