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Cardless Cash makes it possible for bank customers to quickly authorize another person to withdraw money from an ATM without using a card.

The sender can quickly authorize the recipient through a secure channel such as a Web portal, WAP, IVR, SMS or a call center. Only the sender needs to be registered with the system: The recipient does not need to be registered or even be a customer of the bank. Every step takes place online and in real time. The recipient can withdraw the cash immediately. As an additional security precaution, the withdrawal authorization is disabled after a specified period of time.

How Does the System Work?
Registration with the Cardless Cash Withdrawal system is simple: Subscribers first enroll in the system using one of the enrollment channels. This step ensures authorization and transaction security for subscribers. The Cardless Cash Withdrawal System has its own subscriber validation mechanism and it stores confidential information only in its own databases to prevent any unsecure external access. After enrollment, subscribers define their security and quick-access information. An authorized mobile service number and a security PIN are the key elements of Cardless Cash subscriber security.

The system allows subscriber access only with authorized mobile service numbers and correct security PINs. Subscribers can determine which of their accounts may be used for mobile banking services. Any debit or credit card account can be used for mobile banking services. An important part of this step is the definition of quick-use codes. By defining quick-use labels and default choices for bank accounts, recipients, and amounts, customers can tailor the cardless cash withdrawal system according to their individual needs and preferences.

Customer Needs and Cardless Cash Solutions
Easily accessible banking services: The recipient authorization process is accessible from anywhere through a variety of mobile channels such as Web Portal, WAP Portal, and SMS. Withdrawals can be made from any ATM recognized by the bank.

Services are accessible even in emergencies: All Cardless Cash channels are online and fully automatic. These channels provide 7/24 continuous service.

Money can be transferred to recipients without bank accounts: Recipients do not need to have a bank account to take advantage of cardless cash withdrawals. The only requirement is an accessible mobile number that the cash withdrawal authorization code can be sent to.

An easier way to deal with account numbers: All account-related and other operational parameters can be recorded and labeled during or after the initial enrollment process. Labels and default parameters greatly enhance the convenience of the system for subscribers.

Operations are secure and instantaneous: All operations take place online over fully encrypted communication channels. Confidential subscriber information is stored in a separate database that is maintained under the Cardless Cash infrastructure. After the recipient authorization step, money can be withdrawn instantly.

Operations should be free of charge: No fees are charged of bank customers or recipients for use of this service.

Download i-Mobile Cardless Cash Leaflet