Fiserv Passes The CardFree Cash ATM Test

The days of always needing a card to get cash from an ATM are slowly becoming the days of yesteryear. Or at least they soon will be if the CardFree Cash solution that Fiserv provides catches on.

The results of a recent pilot test appear promising, as Fiserv announced yesterday (Sept. 14) that it had competed a pilot with Jacksonville, Florida-based VyStar Credit Union to enable its card-free access to cash at participating ATMs.

This means that for members with a debit card that is lost, stolen, breached or forgotten at home, those consumers can still get cash when it’s needed simply by using a secure access code and PIN at ATMs that offer the technology. Consumers can also set limits, restricting how many transactions can be made in that manner and how long the access code can be used by any specific member of that account. 

“Today’s consumers have come to expect immediate, easy and secure access to their money,” said Vincent Brennan, president, Card Services for Fiserv. “Card replacement can take time, and wire transfers can be expensive. Instant access to funds without a card helps financial institutions improve service and security.”

[bctt tweet=”Today’s consumers have come to expect immediate, easy and secure access to their money”]

These particular cash-free pilots are performed at acquiring partner Payment Alliance International’s participating ATMs and completed over the Accel debit payments network.

“ATMs aren’t just for card-carrying consumers anymore,” said John J. Leehy, III, president and chief executive officer of PAI. “PAI is thrilled to partner with a debit payments industry leader like Fiserv to deliver a unique solution that leverages the Accel network of ATMs, where consumers can obtain cash at convenient, secure and card-free access points across the United States.”

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