Barclays is set to release the UK’s first contactless mobile cash service that allows customers to withdraw money with a tap of their NFC mobile phones or contactless debit card.
The new service, which is currently being piloted in the north of England, will enable customers to withdraw up to £100 in-branch.
Slated to be launched in over 180 bank branches in 2017, the service will be enabled on over 600 in-branch machines.
Barclays said that its customers can pre-select the amount they want to withdraw through the Barclays Mobile Banking app. After that, they will have to tap their phone on the contactless reader to withdraw their cash within 30 seconds.
Additionally, they can tap their phone or contactless debit card on the reader and type their PIN on the machine to start withdrawing money.
The contactless mobile cash service removes the risk of magnetic card skimming and distraction fraud, whether consumers using their smartphone or card.
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Barclays UK CEO Ashok Vaswani said: “We are always looking for new ways to make our customers’ lives easier and their finances even more secure. Our customers now expect to be able to use their smartphone to make their everyday purchases.
“We want taking out cash to be just as easy. With Contactless Cash customers can quickly and securely take-out money with just a tap of their smartphone – a first for the UK.”