Are Cardless Transactions the Future of the ATM Industry?

ATMIA & Kahuna Release In-Depth White Paper on Future of U.S. Cardless Transactions

PEORIA, IL & SIOUX FALLS, SD — ATM Industry Association (ATMIA) CEO Mike Lee recently stated that "we have entered a mobile-digital age and there is no turning back."  He believes cardless ATM transactions are the way of the future.

According to the 2014 U.S. Independent ATM Deployer Survey, 34.7 percent of ATM deployers agree and are developing a strategy for implementing contactless ATM transactions. Another 15.2 percent of those surveyed indicated they were unsure or needed more information to decide if they would offer contactless or cardless transactions.

To educate ATM deployers on the future of mobile ATM technology, ATMIA and Kahuna ATM Solutions have released a comprehensive white paper entitled: Cardless ATMs: Are Mobile Transactions the Future of the ATM Industry?          

With MasterCard's liability shift to EMV quickly approaching, U.S. independent ATM deployers (IADs) are focused on putting their EMV migration plans in place. However, EMV-based technology also brings opportunities for new technology such as cardless transactions, says David Tente, executive director of the U.S. ATMIA chapter.

"While we have everyone thinking about upgrading to chip technology, we also need to think about cardless — not just EMV from a contact-card sense,” says Bryan Bauer, president of Kahuna ATM Solutions, a business development service company dedicated to the success and profit maximization of IADs and ATM operators.

"What IADs must consider when upgrading to EMV are the types of transactions they plan to accept five to 10 years from now," he says. “We need to be thinking about how we can ultimately make EMV-compliant ATMs cardless-acceptance ATMs to meet the demands of our technology driven society.”

The free white paper, available for download from the ATMIA and Kahuna websites, explores future technology considerations IADs should be thinking about offering in the new EMV-based payments society including a review of how cardless technology works, the difference between EMV-based cardless transactions and contactless transactions which use near field communication, the mobile ATM solutions on the market today, and how leading financial instructions and IADs are approaching cardless-accepting ATMs in other parts of the world.

ABOUT ATMIA — The ATM Industry Association, established in 1997, is a non-profit global trade association with just under 5,000 members in 65 countries. As an independent, non-profit trade association, our mission is: to promote ATM convenience, growth and usage worldwide; to protect the ATM industry's assets, interests, good name and public trust; and to provide education, best practices, political voice and networking opportunities for member organizations. If you wish to join, please contact a member of the ATMIA team. Follow ATMIA: LinkedIn, Twitter, YouTube

ABOUT KAHUNA — Kahuna ATM Solutions is the ATM industry’s ONLY business development service company dedicated to the success and profit maximization of independent ATM deployers and ATM operators. Originally founded in 1995, Kahuna ATM Solutions has been considered a trusted industry leader for over a decade. Currently, the Kahuna affiliate network contracts for the processing and management of more than 26,000 ATMs across the United States; accounting for over 70 million transactions annually. Visit www.KahunaATM.com or call 1-888-357-8472 to learn more.