Industry

RBL Bank launches cardless cash withdrawal facility through ATMs

RBL Bank on Thursday said it has launched cardless cash withdrawal facility from ATMs, leveraging the Instant Money Transfer (IMT) system. The private sector lender said it has tied-up with Empays Payment Systems, a global financial technology provider, to offer this service.

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RBL Bank customers can withdraw cash without their debit cards from 389 IMT-enabled automated teller machines (ATMs) of the bank or more than 40,000 other bank ATMs across the country, it said in a release.

To avail the service a customer has to log into RBL Bank’s MoBank app to locate an ATM that supports the IMT function and initiate cash withdrawal by either using his or her mobile number linked to the account or by following a few easy steps on the app.

The customer selects the IMT button on the mobile app, gets a code, and uses it to withdraw money from the ATM.

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“We have been investing heavily in technology and the cardless cash withdrawal facility – through Empays Payment Systems – is the latest value-added service in our growing contactless banking suite. We will continue to innovate in our effort to deliver seamless, relevant and convenient services for our customers,” said Surinder Chawla, Head, Retail Liabilities and Wealth Management, RBL Bank.

Ravi Rajagopalan, Founder and CEO, Empays Payment Systems, said this tie-up will provide the bank an extra element of safety and convenience to its customers.

Licensed by Reserve Bank of India as a national payment system, the IMT Payment System is the world’s largest cardless ATM system, RBL Bank said. ATMs of a number of member-banks are already linked to the IMT Switch, which enables customers of a particular bank to use the ATMs of any member-bank to withdraw cash from their accounts or remit money.

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Printable version | Oct 22, 2020 3:56:18 PM | https://www.thehindu.com/business/Industry/rbl-bank-launches-cardless-cash-withdrawal-facility-through-atms/article32514861.ece

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