Pin4 and partners extend ATM cash access to cardless remittance recipients [Yahoo! Finance]
Mastercard Incorporated (MA)
Last mastercard incorporated earnings: 4/29 08:00 am
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Source: Yahoo! Finance
Pin4 is extending its mobile technology for funds transfers and cardless ATM withdrawals via partnerships with Cardtronics UK and Mastercard, 7-Eleven and Viamericas in the US. The partnerships ensure widespread availability of ATM cash access for unbanked and underbanked recipients of remittances, emergency aid, loyalty rewards and loans. Robin Arnfield reports Covid-19 has highlighted the requirement for fast, safe delivery of cash to people in financial need. Millersville, Maryland-based Pin4 offers a mobile-enabled funds-transfer platform that enables recipients to withdraw their money from ATMs using four-digit codes texted to them. Its does not require recipients to have bank accounts, cards or smartphones, and can be used to provide cash access to prepaid digital wallets that do not have debit cards. As an example, a customer using a remittance service provider to send funds, texts a four-digit PIN to the recipient. Pin4 sends a different four-digit code to the recipient
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