ATM Association Believes The Beginning of the End of the Plastic Cards?

 
LONDON–The ATM Industry Association is reporting it has launched an official global certification system for Next Gen ATMs, the culmination of a four-year long industry project to create a new API App model for ATMs, integrating ATMs and mobile phones in “one seamless new ecosystem.”

The launch of the official certification system to test Next Gen ATM readiness inaugurates what the trade association is calling a “race to the top” to see where the world’s first certified Next Gen ATM will soon be installed.
ATM Card

“I’m proud and delighted to announce that the Consortium for Next Gen ATMs, made up of over 400 participating companies in 55 countries, working together since 2017, has created a brand new global architecture for app-based ATMs,” said Mike Lee, CEO of ATMIA, Chairperson of the Consortium for Next Gen ATMs and President of the ATM Security Association. “Now that the online certification system for the new architecture has gone live on the ATMIA Next Gen portal, companies from anywhere in the world can certify their ATM products and services as Next Gen ready and receive their association certification badge of approval.”

Lee, who is the author of “Codebreaking our Future,” said he believes Next Gen ATMs, which will enable customers to pre-stage ATM transactions on their mobile phones, could signal the beginning of the end of the plastic bank card. At the same time, Next Gen ATMs will make depositing and withdrawing cash easier.

‘Mammoth Future-Proofing’

“Customers will transact at Next Gen ATMs using their mobile phones, reducing the time of the transaction while increasing its convenience, security and intimacy, and so they won’t need their cards to make ATM cash withdrawals in future,” Lee said. “This was a mammoth future-proofing exercise, based on unprecedented levels of global consensus, which has produced a watertight blueprint for the future and I call upon the ATM industry to become fully integrated into the mobile-digital world that dominates society in our times, optimizing the channel’s growing power.”