Cashflows supports Cardtronics and Pin4 cardless cash withdrawals in the UK
By Cashflows Press Team
Brits can now access cash instantly at Cardtronics ATMs in the UK using only their mobile phone
Cashflows is supporting Cardtronics, the world’s largest ATM operator, and Pin4, a FinTech solution provider, with the launch of the UK’s first mobile cash service. Brits can now access cash from businesses, government agencies, financial services providers and others in real-time via SMS text message at Cardtronics ATMs.
No plastic card or bank account is needed, which makes Pin4Cash perfect for the unbanked or those reticent to share sensitive account information. Senders simply text a unique code to the recipient, who can withdraw the funds by entering mobile phone number, the unique code and a four-digit PIN at participating Cardtronics ATMs nationwide.
As funds are available in real-time, disbursement is much quicker than sending a cheque or plastic card in the post. Recipients also have around-the-clock access to funds at Cardtronics ATMs, saving them queuing at bank branches or remittance locations during opening hours.
Cashflows handles the funds movement between Pin4 and Cardtronics, as Amanda Mesler, CEO at Cashflows, explains: “As consumer demands around service delivery continue to rise in the payments sector, we’re helping to bring companies closer to their own customers, using technology to increase choice, speed and ease. By supporting frictionless payout mechanisms such as Pin4’s, we’re doing just that. Our partnership with Pin4 is yet another example of us giving customers choice in the way they pay and get paid, and the speed in which it’s done.”
Pin4Cash cuts back-office operational admin and costs, making it suitable for a range of use cases. For example, businesses can pay gig economy workers at the end of a shift or job. Insurers, government agencies and airlines have a fuss-free way to pay out in an emergency (e.g. fire, flood, disaster relief, cancelled flight or lost luggage). Mobile-only banks, FinTechs and credit unions without a physical branch or ATM network can serve customers’ cash access needs.