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Mobile, noting that the expansion of FIS Cardless Cash through the PAI network ally. According to FICO, nonbank
was a natural extension for FIS since it gives end users access to cash whenever ATMs were most impacted in 2015,
and wherever they want. For PAI, this marks the third such partnership in the and the average duration for ATM
past year. The company also partnered with Fiserv Inc. to develop CardFree compromises dropped from 36 days
Cash, a revised version of Fiserv's Popmoney mobile cash platform. According in 2014 to 14 days in 2015.
to PAI, users receive an encrypted token along with an ATM locator, which
allows them to retrieve funds at nearly 5,000 ATMs across the United States. While card skimmers and cameras
have been popular tools for ATM
In October 2015, HalCash North America teamed with PAI to launch Pin4, the fraudsters, compromise techniques
first independent U.S. cardless cash network not to require an ATM card or are advancing. "The skimmers are
bank account, PAI noted. Initially launched in Chicago, Los Angeles, Miami getting smarter," Brown said. "They're
and New York, Pin4's full nationwide rollout is expected to be complete by starting to use techniques called in-
the end of 2016. According to HalCash, the Pin4 API enables promotion and serts, which goes beyond that super-
remittance companies, financial institutions and other businesses to deliver ficial skimmer that sits outside the
real-time, mobile, cardless cash to customers. machine. The insert is a physical de-
vice that is inserted inside the tracks
With Pin4, customers can key in four-digit tokenized codes at ATM locations. of the machine. These inserts prey on
"What is even more interesting is they are working with insurance companies both EMV and non-EMV cards."
and other reward/redemption companies that today issue checks for redemp-
tion," said Donna Embry, Chief Payments Advisor at PAI. "Instead of issuing And EMV cards that contain mag
large numbers of checks, these companies can text a single-use token, which stripes fuel the problem. "With the
customers can use to access funds at a PAI ATM." phone-based authentication in Card-
less Cash, you don't have that, be-
Beating ATM fraud cause we don't even put the card data
onto the phone. We don't send your
The number of ATMs in the United States compromised by criminals in 2015 card information from the phone to
was up 546 percent over the previous year, the highest ever recorded by FICO the machine. The phone speaks to the
Card Alert Services, which monitors hundreds of thousands of ATMs nation- ATM over a secure cloud path net-
work."

Brown pointed out that another
benefit with cardless cash is speed.
"Because you can get in and out of
an ATM in 11 seconds, there is a lot
less physical threat to you," he said.
For FIS customers, speedy access to
funds is attracting customers. About
10 percent of FIS' early mobile bank-
ing adopters with access to Cardless
Cash now use it, and that number
continues to grow, Brown noted.

According to Embry, cardless ATM
technology is highly cost effective.
"Nobody has to do anything differ-
ently," she said. "It doesn't add to the
cost of the machine, there is no hard-
ware or capital cost to change a read-
er or certify anything, so it won't be
onerous for them to have to have this
on their machine. It's all upside. We
have software available at the manu-
facturer."

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