Diebold patents mobile-transaction ATMs

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Diebold patents mobile-transaction ATMs

New mobile-transaction technology developed by ATM maker Diebold is already attracting interest in the marketplace. It promises to change not only the way consumers interact with ATMs, but also how they pay merchants and each other, says Digital Transactions.

The company has received five patents covering technology that allows consumers to use mobile phones as input devices at ATMs, among other applications.

In one scenario, for example, a traveller in a strange city would use a global-positioning service on her cellphone to find the closest ATM, then would use the Diebold application to "order" cash at that machine, or, in other words, instruct the local network to dispense cash when she arrives at the ATM.

Wireless to help under-banked

One of the more popular seminars at the The Economic Times Banking Technology Conclave 2007 was titled "Banking Sector Next Frontier - Serving the Under Banked Profitably. Can technology, especially wireless-enabled serve the un-served market?", according to The Economic Times.

Janmejaya Sinha, MD of Boston Consulting Group (India), said: "I am going to talk about banking to the middle of the pyramid. To cater to the bottom of the pyramid would need government assistance."

Sinha referred to this broad segment as the 'The Next Billion' and said this category craves for banking inclusion but is hesitant to take the initiative to start banking as they are fearful of making mistakes with their money.

MobiClear fights online fraud

MobiClear's proprietary personal identification verification (PIV) technology is being used during online bank transactions, says TMC Net.

MobiClear's Internet Bank enables commercial banks to offer their clients another layer of online banking security through the use of a unique MobiClear PIN required to approve any transaction.

The development of this product places MobiClear in a favourable position to benefit from the growing trend toward online banking. The company believes that by providing this solution, those weary of conducting online banking transactions will be put at ease.

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