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Turkish ATMs show mobile's future
Jan 25, 2013 (Datamonitor via COMTEX) --
IsBank's move to integrate its mobile banking platform with its ATMs to enable cash withdrawals via mobile phones signals a proactive move by the bank to adapt its systems to reflect the growing popularity of technology-based services, and supports Turkey's development towards a cardless future.
IsBank's mass rollout of its new IsCep mobile cash withdrawal ATM service is the latest move by the bank to further adapt its systems to address the growing consumer preference for new technology-based services. The move, which chiefly focuses on minimizing ATM transaction times and giving consumers increased access to their funds through the modernization of its services, has the potential to strengthen the mobile payments use case not only at ATMs but also for instore payments, as it offers a means for consumers to go completely card free.
The IsCep cash withdrawal service - which integrates IsBank's mobile banking platform with its nearly 5,000 strong ATM network, enabling customers to withdraw cash via their mobile phones - is one of the first services of its kind to be commercially released by a bank, alongside NatWest's Get Cash app released last year in the UK. The introduction of such services is nonetheless growing in popularity, with ATM manufacturer Diebold recently unveiling a similar service at the 2013 International Consumer Electronics Show in the US.
Turkey, and IsBank in particular, has been historically known for its innovation within payments. In 2012 alone, IsBank opted to install biometric finger scanners in nearly all of its ATMs and branches across the country. The bank's release of IsCep signals that for mobile payments to see any boost in consumer usage rates ATMs will increasingly have a role to play in the process, especially if mobile payments are to truly replace cards.
For more information about this topic, please contact Theresa Jameson at tjameson@datamonitor.com.
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