The FINANCIAL — The 20 innovative companies honoured this year by US magazine Banking Technology News in the 9th annual issue of “The Innovators” have one thing in common: they offer the kind of risk-taking, forward-thinking products and services required by the financial services industry to leave the financial crisis behind and bring the next level of value to customers.
Wincor Nixdorf was one of the honored companies, joining a prestigious line-up that includes global leaders in the retail banking and financial services industry.
The new Mobile Money ATM solution powered by Wincor Nixdorf delivers an answer to two challenges facing banks: how to squeeze more functionality out of their ATMs; and how to enable transactions via mobile phones.
Together with Sicap, a leading provider of mobile software solutions and a subsidiary of Switzerland’s leading telecom provider Swisscom, Wincor Nixdorf now offers an ATM designed for a range of Mobile Money services, including deposits and withdrawals. Under the partnership, Wincor Nixdorf delivers the terminals together with the company’s server-based software application, and Sicap designs, customizes and implements the service to meet the individual requirements of mobile network operators worldwide.
The solution also has potential applications for banks. Instead of building out their own ATM networks to offer Mobile Money services, they can use their existing ATMs running the Wincor Nixdorf mobile payment solution PC/E Mobile Transaction Services.
For a cash remittance via an ATM, a sender simply enters the phone number of the recipient and a security PIN (personal identification number) on the terminal’s touch screen and inserts the amount into the machine. The recipient can withdraw cash from any participating ATM. Or a bank customer can send the payment instructions via mobile phone, allowing the recipient to pick up the cash at the terminal.
“Demand for these kinds of services will grow as people become more accustomed to using their mobile phones for payments,” said Nicole Sturgill, research director at TowerGroup.
“Mobile Money is a growth market and of particular interest to banks and mobile network operators at the same time,” said Stefan Auerbach, Executive Vice President Banking at Wincor Nixdorf. “Our innovative, cross-sector solution offers banks an opportunity to play an active role in this new market.”
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