Contactless ATM (the first in the Czech Republic) Qorus Banking Innovation Awards 2017

Together with the Poles, the Czechs are contactless payment champions. However, they were unable to withdraw money in this quick and convenient manner until 2016 when Air Bank, as the first bank in the Czech Republic, started to offer contactless withdrawals from its ATMs as well. In 2017, Air Bank introduced its new contactless-only type of ATM that is unique in the whole world. This ATM no longer has a slot for inserting cards, and people can withdraw money from it only in the contactless way. It demonstrates the possible ATM withdrawals trend. The contactless withdrawal is simpler and quicker than the classic card insertion. In addition, the new CS 2020 ATM is 33% faster than current models and can process the entire withdrawal within 21 seconds. Just ‘beep’ at a reader and enter your PIN. Money may also be withdrawn by payment sticker holders and, in the future, also by owners of NFC function-equipped phones. Contactless withdrawals are also safer because this system prevents so-called ‘skimming’, or copying of a card by an unauthorized person. In addition, an ATM will never intercept a card because a client keeps it in his hand at all times. Contactless withdrawals from the Air Bank ATMs are available to all payment card and sticker holders whose banks allow this function for a card/sticker. The new ATM type is also more environment-friendly since it does not print receipts. Air Bank assumes that clients can easily check their account balance in their mobile application or utilizing push and SMS messages. That makes this type of ATM cheaper to operate because it does not require paper and it has fewer technical service-demanding components.