The innovative solution makes it easy for UK citizens to access cash at an ATM using their mobile device, no card required
HOUSTON, June 18, 2020 (GLOBE NEWSWIRE) -- Cardtronics, the world's largest ATM operator today announced its ATMs would be the first in the U.K. to allow individuals to withdraw cash using a new cardless cash service from fintech solutions provider Pin4. The Pin4Cash service will enable organizations to send cash to individuals in real-time using an SMS text message. This unique and innovative solution allows people to complete card-free cash withdrawals at the majority of Cardtronics' CashZone ATMs around the country using only their mobile device, without requiring a payment card.
Up to now, U.K. organizations have been delivering funds by bank transfers and cards. These methods have been cumbersome and less desirable for many recipients, particularly those preferring cash or seeking to avoid, in-person interactions. This challenge has become a particular issue for organizations struggling to provide emergency funding for those in financial difficulty because of the COVID-19 virus.
Businesses, charities, and government agencies can now use Pin4Cash to send people in the U.K. a simple text message containing a unique code the individual can use to access the funds at a participating Cardtronics ATM location. Once at the ATM, the individual enters their phone number, the unique code, and their four-digit pin, with no card required.
The Pin4Cash solution offers a simple, easy way for organizations to pay wages, issue hardship funds, and provide cash incentives and awards, even to those without banking accounts or debit cards.
This unique capability has proved to be particularly attractive to the U.K.'s credit unions, many of whose members do not have debit cards associated with their accounts and are unable to get cash over-the-counter because of the lockdown restrictions. Now, thanks to Cardtronics and Pin4, almost half of the U.K.'s credit unions can provide their members with access to the cash in their savings accounts using only their mobile phone at a participating Cardtronics ATM.
"Cash use remains very strong and resilient during this crisis. Every month, our ATMs distribute over £1bn, and millions of people are relying on it more than ever during the lockdown," said Marc Terry, International Managing Director for Cardtronics. "The U.K. ATM infrastructure continues to play a vital role in society, and we are delighted to deliver this innovation at this time of need for so many."
"This is our initial entry into the U.K., and we are thrilled to be partnering with the largest ATM provider in the market, one at the forefront of ATM innovation. We share with Cardtronics the common goal of ensuring access to cash for people all around the U.K., particularly for those in need during this difficult time. We look forward to expanding the uses for this solution as the crisis begins to abate," said Jim Leroux, CEO of Pin4 International.
Pin4Cash offers flexible mobile cash solutions and is gaining significant interest from a wide range of potential partners, including credit unions, charities, and local government.
Visit our website to learn more about the Pin4Cash solution.
About Cardtronics (Nasdaq: CATM)
Cardtronics is the trusted leader in financial self-service, enabling cash transactions at approximately 285,000 ATMs across 10 countries in North America, Europe, Asia-Pacific, and Africa. Leveraging our unmatched scale, expertise, and innovation, top-tier merchants and businesses of all sizes use our ATM solutions to drive growth, in-store traffic, and retail transactions. Financial services providers rely on Cardtronics to deliver superior service at their ATMs, on Cardtronics ATMs where they place their brand, and through Cardtronics' Allpoint Network, the world's largest surcharge-free ATM network, with over 55,000 locations. As champions of cash, Cardtronics converts digital currency into physical cash, driving payments choice for businesses and consumers alike. To learn more about Cardtronics, visit www.cardtronics.com and follow us on LinkedIn and Twitter.
About Pin4
Pin4 is a fintech company operating a proprietary ATM cash access solution using consumers' mobile phones. This allows consumers to access cash without regard to whether the consumer has a credit/debit card or bank account. Pin4's solution is being used in Spain, the United States and now the United Kingdom to enable a range of B2C, G2C and P2P payments, including financial and disaster relief, digital account withdrawals, wage payments, incentive and reward fulfillment, P2P transfers and more. For more information, please visit http://www.pin4.com.
Contact Information:
| Media Relations Lisa Albiston VP Public Relations and Communications 832-308-4000 corporatecommunications@cardtronics.com (mailto:corporatecommunications@cardtronics.com) | Investor Relations Brad Conrad EVP - Treasurer 832-308-4000 ir@cardtronics.com (mailto:ir@cardtronics.com) |
| For more information, please visit: www.cardtronics.com (http://www.cardtronics.com) | International Richard Cooper EVP - International Product and Marketing +44 (0) 7741 144344 rcooper@cardtronics-eu.com (mailto:rcooper@cardtronics-eu.com) |
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