You can now use an iPhone to withdraw money from an ATM
APPLE customers will be able to speedily withdraw cash from ATMs with just a touch of their finger thanks to new partnership.
ATM withdrawals are about to get speedier
iPhone users will soon be able to benefit from an easier way to get their hard-earned cash thanks to a new deal signed by Apple.
The company has teamed up with two leading ATM providers to allow for iPhone users to withdraw money using their device, and without needing a credit or debit card or even enter a PIN number.
The withdrawals will work similarly to a contactless transaction, as customers will use their device and an accompanying mobile app to set up.
Apple Pay can already be used to pay at other businesses
Payments are then authorised using the customer's fingerprint, much like the current set-up to use Apple Pay.
Following the transaction, an electronic receipt is send to the user's iPhone, with the withdrawal taking just under ten seconds.
Apple says the deal, signed with FIS and Payments Alliance International (PAI) will open up more than 70,000 ATMs across the United States to contactless withdrawals.
However there's no sign that Android devices will be supported yet, or when the technology will spread to the UK.
But hopes are high, as FIS says that cardless technology should prevent users falling victim to the increasing risk of card-skimmers, where criminals install a fake reader at an ATM which steals the user's details.
It should also cut down on the number of customers hit by "shoulder-surfers" - criminals who stand behind anyone using an ATM and peer round to spot their details.
iPhone - Guided Tour- Apple Pay
The announcement comes as competition in the mobile payment market continues to increase, as big players such as Apple and Samsung throw their weight behind the technology.
Since its launch in 2014, Apple Pay has helped popularise the idea of paying for good using a mobile phone in the UK, with thousands of businesses across the country supporting the technology.
Apple Pay will also be coming to desktop devices as part of the company's macOS Sierra and iOS 10 updates.