Empays Payment Systems India Pvt Ltd, has announced a partnership with Mastercard in a bid to launch ‘Cardless ATM powered by Mastercard’ in India. As a part of this strategic alliance, Empays will be upgrading the basic technology behind the IMT Payment System to incorporate the requirements of Mastercard Cardless ATM enabling a true EMV-capable cash withdrawal transaction.
‘Cardless ATM powered by Mastercard®’ will enable 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. It will be allowing users to withdraw cash safely, especially during current times of COVID-19.
Porush Singh, Division President, South Asia, Mastercard said, “At Mastercard, it is our endeavor to use cutting-edge technology to improve customer satisfaction and security. In the current unprecedented times, this has taken on an urgency and importance as we balance between the need to protect ourselves and the need to continue transactions essential to maintain our daily lives. 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.”
Ravi Rajagopalan, Founder and CEO, Empays Payment Systems said, “We are excited at the prospect of working with Mastercard to bring their industry-leading Cardless ATM technology to the Indian market via IMT Payment System. We deeply admire Mastercard for their commitment to emerging markets and the way the company differentiates their global technology offerings based on local market needs. We value the partnership and look forward to engaging our member banks in discussions very soon.”