An app on your phone (iOS or Android) allows you to access the ATM. Your PIN and account details are saved on your phone and you simply transact amounts via your phone. It requires a 2D bar code to be scanned before the whole procedure starts.
This technology is brilliant since you become safe from fake ATM machines, skimming frauds and all such kind of troubles. The existing ATM machines require no additional hardware upgrade, only a small software update does the job. The company is hoping to select partners before rolling out the system for public access. Watch the video below to see how it works.