ANZ Bank rolls out world-first ‘Tap & Pin’ ATM


ANZ Bank has announced the upcoming launch of a world-first EMV Secure ‘Tap & Pin’ ATM, a card reader for mobile devices, and a mobile wallet – scheduled for roll-out in 2015.

Labelled the world’s safest ATM, ANZ will partner with ATM manufacturer NCR and payments provider Visa, to create an ATM which will read a card’s data without the need to insert the card into a reader.

According to Gilles Ubaghs, Senior Analyst, Financial Services Technology at Ovum, although it appears to be the first ATM to be launched with an explicit focus on the EMV side, there have been a few other small scale pilot style launches in the past in Poland with ING and Spain with La Caixa.

ANZ Australia CEO Philip Chronican said that the new ATM will address both security and convenience, “the growing dependence on technology means customers want simpler and faster ways to bank – but they also want to know their money is secure.”

“Those previous early launches were focused much more on speed rather than security with things like preset limits on values to withdraw, so the use of EMV and contactless as a security play is a unique one,” said Ubaghs.

According to industry data, counterfeit card fraud costs the financial services industry approximately $25 million a year in Australia alone. “ANZ’s ‘Tap & PIN’ solution is a global first and will go a long way in the fight against card skimmers and to make banking safer and easier,” said Chronican.

Plans for the ATM in the future will enable customers to tap their mobile devices rather than card to make withdrawals, with the use of Near Field Communication (NFC).

However, according to Ubaghs, it remains to be seen whether the roll-out of these ATMs will be a success, “Rolling out ATMs is not the fastest business, so it will take a while to gain any serious traction, especially as most consumers will still wonder what it is when they first encounter the ATM,” he said.

ANZ Bank has also been making strides in the payment’s space, announcing a partnership with mobile payments provider to launch a card reader device for business customers, also in 2015.

The card reader will be EMV and PCI compliant, to work with ANZ FastPay. The device will connect through the audio-jack port of the Apple iOS or Android device to provide secure card payments.

The bank also announced the launch of a mobile wallet next year, using NFC technology to provide customers with a mobile contactless payments system in their mobile device. Customers will be able to store one of more of their ANZ Bank cards to transact at contactless terminals across the country.

Ubaghs suggested the payments market is snowballing at the moment, “I think with the launch of Apple Pay in the United States and Host Card Emulation for NFC payments, and the slow maturation of mPOS technologies, a lot of banks globally are cementing their payments roadmaps. I am expecting the pace of new launches and developments to increase in the next year or two.”