Empays Payment Systems partners with Mastercard to enable contact-free ATM cash withdrawals in India
- Empays Payment Systems India Pvt Ltd, which built and runs the IMT Payment System, on Tuesday announced a partnership with Mastercard to enable contact-free ATM cash withdrawals in India. With this partnership, Empays will upgrade the basic technology behind the IMT Payment System to incorporate the requirements of Mastercard Cardless ATM enabling a true EMV-capable cash withdrawal transaction.
- As per a release by Mastercard, the IMT Payment System powers the largest ATM network for cardless cash withdrawals in the world and is available across 40,000 ATMs in India.
- It uses SMS technology to enable cash withdrawals from participating ATMs without any physical contact with a card.
- Empays is authorised by the Reserve Bank of India (RBI) as a national payment system.
- “Cardless ATM powered by Mastercard’ will help users to digitally locate the nearest enabled ATM and initiate a withdrawal by simply scanning a QR code on the mobile phone, using their banking app,” the release said.
- It will allow users to “withdraw cash safely” following four simple steps at the nearest enabled ATM without the need to insert the physical debit/credit card into the ATM, thereby minimising any unnecessary contact, making it a cleaner withdrawal option vis-a-vis regular cash withdrawals, especially during current times of COVID-19, the release said.
- “With ‘Cardless ATM powered by Mastercard’, users will be able to withdraw cash safely by completely eliminating the need to use a physical card or touch an ATM pin pad, while providing the security of an EMV transaction, making it safe, quick and easy for people to access cash,” Porush Singh, Division President, South Asia, Mastercard said.
- The technology will soon be available to any existing and future IMT member bank in India, enabling a smooth upgrade that will help in reducing their technology spend and shortening the time to market window.
About Empays Payment Systems-
We are a small but talented team consisting of a mix of app development, Java, database and operations personnel. The team has architected and built our SDPP and IMT capabilities and is involved in new exciting projects for new customers.
- Headquarter– Mumbai, Maharashtra
- Founder and Chief Executive Officer– Ravi Rajagopalan
Mastercard Incorporated is an American multinational financial services corporation headquartered in the Mastercard International Global Headquarters in Purchase, New York, United States. The Global Operations Headquarters is located in O’Fallon, Missouri, United States, a municipality of St. Charles County, Missouri.
- Founded – 1979 (As a MasterCard)
- President & CEO – Ajaypal Singh Banga
- Chairman – Richard Haythornthwaite
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