Person-to-Person Payments Coming to NCR ATMs
DULUTH, Ga. -- NCR is partnering with PayPal and S1 Corp. to enable real-time, person-to-person payments from its ATMs to anyone with a mobile phone or e-mail account, announced NCR. The service will initially launch in the United States with the ability to send money to individuals in more than 60 countries.
According to NCR, consumers will have the option to send money after authenticating themselves at an NCR SelfServ ATM. Consumers will be able to enter the recipient's e-mail address or mobile number, choose an amount to transfer and the money will be immediately credited to the recipient's PayPal account.
"The ATM channel continues to play a powerful role in delivering new, multichannel financial services to consumers," said Michael O'Laughlin, senior vice president, NCR Financial Services. "Whether it is deposit automation, bill payment, money transfers or a variety of new and exciting products and services, NCR SelfServ ATMs provide a secure, trusted, and ever-present point of presence for the exchange of value by a bank or credit union's customers and members. This solution is just an early foray by NCR to extend person-to-person payment options around the world."
In addition to being a 24/7 payment transfer option, the person-to-person payments using the companies' joint ATM solution could also be a less expensive transaction than other non-PayPal money transfer options currently available, according to NCR.
"Banks and credit unions can now bring a highly differentiated set of capabilities to their retail and business customers," said Dan Schatt, general manager, Financial Innovations, PayPal. "Offering PayPal payments through the ATM channel can enable businesses to instantly pay their overseas or domestic suppliers, and retail bank customers to send international and domestic payments, all with a few taps on an NCR ATM machine. We're proud to be partnering with NCR and S1 on this global initiative, since both companies have a history of offering innovative payment solutions to the banking industry. We believe our ATM-based solution will spur the growth of electronic payments in place of less efficient cash and checks, while giving consumers, businesses and banks significant value."
The person-to-person payments will be available to banks running on the S1 payment platform and using NCR APTRA Edge in the United States. NCR anticipates the service being available starting the first quarter of 2012.