Faster money through barcodes

June 22, 2012
By

A new company in america has devised a simple way whereby you can access your money from your bank account using your mobile phone instead of fiddling about with a plethora of credit and debit cards. The first review of the system which is currently only available in America is it will not only speed up the process of accessing your money from an ATM, make he process a great deal more streamlined but also it is much more security concious.

The application of QR codes on mobile phones seems to be growing and growing.  more or less barcode labels on wheels there seems to be no restrictions on how far we can take their development. A company in America, the NCR corporation has designed a mobile phone application that allows you to access money from an ATM using QR codes in double quick time.

The way it is supposed to work is like this: With the new app installed on an Android or iOS smartphone the customer approaches an ATM. After the app loads, the customer enters the four digit PIN number tied to their bank account on the smartphone touchscreen. When the pin is accepted, the customer will see all the bank accounts attached to that pin on the smartphone itself. The customer than chooses which account is appropriate and how much to withdraw (on the smartphone). then when the customer reaches the ATM he/she simply scans the QR code on the ATM with the camera application on the phone and the money is dispensed.

The beauty of this method is threefold. One: If you are waiting in a queue for an ATM you can get everything set up so that when you finally reach it your money is dispensed in seconds. Two: You don’t have to fiddle about with numeorus credit and debit cards. Three: Experts feel it is more security concious because as thieves can’t utilize ATM skimming devices to collect debit card numbers since the customer has no need for an ATM card anymore.

Leave a Reply

Your email address will not be published. Required fields are marked *


*

Recent posts

Recent Comments