SunTrust is planning to roll out NFC-enabled ATMs at 1,700 bank branches throughout the Southeast, according to American Banker.
The new models from NCR will be able to communicate with NFC-enabled smart phones and accept EMV chip and PIN cards. The ATMs will also feature a single-slot for cash and check deposits and withdrawals, rather than the current dual-slot configuration.
According to American Banker, the ATM’s NFC technology would be used for mobile authentication, in which users would be able to hold their NFC-enabled smart phones to the ATM to verify transactions.
Tom McDermott, senior vice president of cross channel strategy for SunTrust, says that using mobile devices to authenticate ATM transactions can improve security and protect customers from thieves.
“If you can authenticate without a card, you can cut down in card skimming,” said McDermott, adding that the bank is expecting to see “a rapid adoption of NFC and mobile payments” heading into 2013.
SunTrust expects to complete the ATM roll out by December.
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