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Five students devise novel way to draw cash at ATM without card - 18-Mar-2018
Chennai: Five students from Oakridge International School, Bengaluru have come out with a novel method to withdraw cash at an ATM centre without using a debit or credit card.
With a 3-step verification - ATM pin,
an OTP, as well as the user's fingerprint or password on their phone; the
solution is highly secure.
The solution would allow ATM lines to be reduced, allowing customers to complete the whole process of withdrawing cash from an
ATM in less than 30 seconds even if they have forgotten their card.
VISA has come forward to mentor the
project facilitating to develop an industry level solution.
The five conceived the scheme after
working for 30 hours on the idea for quick, easy withdrawal at a hackathon
hosted by DCB bank.
The success team comprises of Rahul -Backend
developer, Vikram - Frontend developer, Baala Teja - Android developer, Gaurang
- Android developer and Rithvik –Innovator.
Teaching the users about how they can rely
more on their mobile phones for things like ATM transactions as well as
purchasing goods from a vendor, this can be seen as a small step towards making
the country more digital while increasing security and ease of use.
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