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The Diebold and Paydiant solution addresses two significant obstacles to adoption: hardware needs and security concerns. The MCA offering allows financial institutions to provide a secure, bank-branded mobile wallet solution without installing additional hardware on ATMs or point-of-sale (POS) terminals. Additionally, Diebold's cardless solution eliminates the threat of card skimming at the ATM.
"As mobile technology proliferates, financial institutions are looking to Diebold for advice on what mobile wallets mean for their businesses," said Diebold's Chief Innovation Officer
The cardless MCA solution allows consumers to pre-stage cash withdrawals on smartphone devices creating a cooperative interaction with the ATM, a feature Diebold highlighted in a concept earlier this year. At the ATM, consumers authenticate themselves by scanning a unique QR code that signals the ATM to dispense cash via an encrypted connection to the cloud.
"Mobile wallets, like plastic credit cards 50 years ago, will become an everyday functionality for consumers," said Natoli. "Diebold's partnership with Paydiant is a step toward creating a mobile wallet ecosystem that offers convenience and security to consumers directly from their financial institutions."
Pairing the functionality of a mobile wallet solution with the convenience of self-service options at the ATM enhances the consumer banking experience while supporting financial institution loyalty. The ability to conduct transactions with a mobile device at an ATM provides the foundation for financial institutions to offer a private-labeled mobile wallet solution that can also be used at retail establishments for everyday purchases.
"Our white-label approach continues to gain traction in the marketplace and traditional competitors are coalescing in an ecosystem around Paydiant offerings," said
Paydiant is the provider of a cloud-based, white label mobile payment and offer redemption platform that enables merchants, banks, and payment processors to deploy and manage their own mobile payment, offer management and offer redemption solution, under their own brand and on their own terms. Visit www.paydiant.com for more information about the Paydiant solution and follow us on Twitter @Paydiant.
Media Relations for Diebold, Alissa Black, +1-330-490-5842, firstname.lastname@example.org; or Media Relations for Paydiant, Tim Walsh, +1-617-512-1641, email@example.com; or Investor Relations, Jamie Finefrock, +1-330-490-6319, firstname.lastname@example.org