QR codes for ATMs from the NCR Corporation
Mobile commerce is gaining traction all over the world, due largely to the success and adoption of NFC technology. While NFC has been a powerful force in mobile commerce, it is not the only technology capable of utilizing a consumer’s financial information. QR codes are beginning to grow in prominence in the burgeoning industry and could soon be used at ATMs around the world. The NCR Corporation, an information technology company based in the U.S., has developed a new way to utilize QR codes specifically for ATM withdrawals.
NFC is no longer the sole ruler of mobile commerce
Mobile technology seems to have become an inseparable part of today’s society. The number of people with smart phones and similar mobile devices is growing daily. As the popularity of mobile technology continues to rise, the demand for financial services that allow consumers to make use of their favored devices is also growing. NFC technology emerged in the early days of this demand and its use was able to successfully establish the mobile commerce industry. The technology garnered acclaim for its ability to turn nearly any mobile device into a payment platform.
QR codes could allow consumers to access their banks through their mobile devices
As the mobile commerce industry continues to evolve, the need for more inclusive technology is beginning to grow apparent. NFC technology is somewhat exclusive at present as the availability of NFC-enabled mobile devices is somewhat slim. Thus, NCR took to developing a system for both the Android and iOS platforms that utilizes QR codes to allow consumers access to the funds they keep in their bank accounts. When a code associated with NCR and a particular bank is scanned, consumers need only to input their PIN and select an amount which to withdraw.
Safety of ATM QR codes considered sound
Each code is designed to access the financial information of a particular user, utilizing the information stored within the mobile device itself. This makes the codes free from exploitation as they do not access financial information directly. Whether the concept of ATM QR codes catches on, however, has yet to be seen.
