Big boost for contactless banking! RBL Bank offers Cardless Cash Withdrawal facility through ATMs

With a view to expand its suite of contactless banking services, RBL Bank has launched cardless cash withdrawal facility for customers through the IMT System.

RBL Bank customers can withdraw cash without their debit cards from 389 IMT-enabled ATMs of RBL Bank or more than 40,000 other bank ATMs across the country. Photo: Reuters

With a view to expand its suite of contactless banking services, RBL Bank has launched cardless cash withdrawal facility for customers through the IMT System. RBL Bank has tied up with Empays Payment Systems, a global financial technology provider, to offer the service. RBL Bank customers can withdraw cash without their debit cards from 389 IMT-enabled ATMs of RBL Bank or more than 40,000 other bank ATMs across the country.

Speaking on the move Surinder Chawla, Head – Retail Liabilities and Wealth Management at RBL Bank said, “At RBL Bank, our aim is to create value for our customers by simplifying processes and enhancing their banking experience. We have been investing heavily in technology and the cardless cash withdrawal facility – through Empays Payment Systems – is the latest value-added service in our growing contactless banking suite. We will continue to innovate in our effort to deliver seamless, relevant and convenient services for our customers.”

Ravi Rajagopalan, Founder and CEO, Empays Payment Systems, said, “We are delighted to welcome RBL Bank into the IMT family and are excited at the prospect of working with the Bank to provide an extra element of safety and convenience to their esteemed customers.”

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To avail the service a customer has to log into RBL Bank’s MoBank app to locate an ATM that supports the IMT function and initiate cash withdrawal by either using his or her mobile number linked to the account or by following a few easy steps on the app. The customer selects the IMT button on the mobile app, gets a code, and uses it to withdraw money from the ATM.

Licensed by the Reserve Bank of India (RBI) as a national payment system, the IMT Payment System is the world’s largest cardless ATM system. ATMs of a number of member-banks are already linked to the IMT Switch, which enables customers of a particular bank to use the ATMs of any member-bank to withdraw cash from their accounts or remit money. The IMT system network is slowly expanding to include micro ATMs and other non-ATM outlets.

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