Cardless ATM Withdrawal
As mobile-based services have become more common in everyday life, an increasing number of activities are shifting to be carried out on mobile phones. This includes ATM cash withdrawals, which can now process through mobile banking applications. However, in the meantime, customers are still only able to process withdrawals through the ATMs operated by the same bank as the provider of mobile banking services.Thus, the Cardless ATM Withdrawal plan from ITMX can enhance the cardless withdrawal service by allowing cross-bank transactions. The member bank customers can now experience the true convenience of cross-bank transactions through the first cross-bank transaction services of ITMXs Single Payment System ATM Switch, the existing infrastructure of cross-bank cash withdrawal services.
Benefits of Cardless ATM Withdrawal service
- Increase usage of ATMs for acquirer banks
- Expand ATM network coverage for issuer banks' Cardless Withdrawal service
- Provide superior convenience to member banks’ customers by allowing transactions across banks.
Service features
The company’s Cardless ATM Withdrawal services will be developed on top of the existing ATM switching platform to support both One-Time-Password (OTP) and QR Code transactions. To enable cross-bank cardless withdrawal service using ITMX's ATM switch system's common message standard, issuer banks will require an extension development on the mobile banking application, while acquirer banks will require an extension development on the ATM machines. During the early stages, this service will be available only to banks that have OTP service ready.
Financial Institutions
Qualifications of the applicant
1) The applicant must be either a commercial bank licensed to conduct commercial banking under the Financial Institutions Business Act B.E. 2551 (2008) or a bank established under specific legislation.
2) The applicant must be a business provider of the designated payment services under the Payment Systems Act B.E. 2560. (2017).
Revocation of Membership
1) The bank's license to operate commercial banking under the Financial Institutions Business Act B.E. 2551 (2008) has been revoked, or the bank has been disqualified as a bank established under specific legislation.
2) The business provider's license to operate a designated payment service under the Payment Systems Act B.E. 2560. (2017) has been revoked.
The customer of the Single Payment System member bank can access the system's services based on the products in which that bank has memberships. For example:
- Interbank cash withdrawal and/or balance inquiry via ATMs
- Interbank transfer via ATMs
- Interbank transfer via bank counters in any branch
- Cash withdrawals from ATMs in foreign countries, etc.
The customer can contact the bank of service directly for more information.
of Service
Benefits
Qualifications of the applicant
The member bank can save on investment costs, e.g., ATM machine ownership costs or branch expansion costs, including the cost of hiring customer service personnel. Otherwise, bank members can use ATMs or bank counters of other member banks, and connect to international service networks.
The member bank customer can make transactions through various channels. For example, ATMs of other banks or foreign countries, bank counters of other banks, online services, mobile banking, etc.
The company is aware of the highest security for information transmitted via the electronic media of the Single Payment System. We ensure the highest security by prioritizing the use of the most advanced security technology, including data encryption throughout the connection. Additionally, we incorporate private network devices between the company and member banks that control the connection devices using the Security Key system.
The company focuses on providing the most advanced security for the advancement of the national transfer/payment system to meet international standards. Furthermore, to protect users from any form of interception while ensuring the integrity of information transmitted through the system.
Security
