Archive

Posts Tagged ‘ATM’

Japanese ATMs to Use Palm Readers in Place of Cash Cards

April 11, 2012 Comments off

pcworld.com

A Japanese bank will introduce ATMs that use palm scanners in place of cash cards, it said Wednesday.

Palm Vein Technology –
on an ATM (Credit: Fujitsu)

 

Ogaki Kyoristu Bank said the new machines will allow customers to withdraw or deposit cash and check their balances by placing their hand on a scanner and entering their birthday plus a pin number. The ATMs will initially be installed at 10 banks, as well as a drive-through ATM and two mobile banks, from September.

Ogaiki announced the new ATMs with the slogan “You are your cash card.”

One reason the bank decided to use the new technology was the massive earthquake and tsunami that ravaged the country’s northeast coast last year, it said. Many who escaped the tsunami lost their homes, personal possessions and all forms of identification, and so were unable to access their bank accounts until weeks or months later.

Finger and palm scanners are currently used by many large Japanese banks along with cash cards as an additional safety feature, but Ogaki said it will be the first bank in the country to do away with cards Read more…

Debit cards: $50 spending limit coming?

March 11, 2011 Comments off

cnn.com

Debit card limit By Blake Ellis, staff reporterMarch 10, 2011: 10:09 AM ET

NEW YORK (CNNMoney) — Declined! Your debit card may soon be denied for purchases greater than $100 — or even as little as $50.

JPMorgan Chase, one of the nation’s largest banks, is considering capping debit card transactions at either $50 or $100, according to a source with knowledge of the proposal.

Why? Because of a tricky thing called interchange fees.

Right now, every time you swipe your debit card, your bank charges the retailer an average fee of 44 cents, which it shares with its partners. Those little fees, however, add up to about $16 billion per year, according to 2009 data from the Federal Reserve.

But as part of the Wall Street reform legislation that was passed last year, these fees are being slashed. The Fed is currently proposing rules that would go into effect in July and would cap interchange fees at 12 cents.

That’s a big enough cut to cost Read more…

Biometric ATM gives cash via ‘finger vein’ scan

January 10, 2011 1 comment

Poland’s cooperative BPS bank says it’s the first in Europe to install a biometric ATM — allowing customers to withdraw cash simply with the touch of a fingertip.

The digit-scanning ATM, introduced in the Polish capital of Warsaw, runs on the latest in “finger vein” technology — an authentication system developed by Japanese tech giant Hitachi.

The company says that an infrared light is passed through the finger to detect a unique pattern of micro-veins beneath the surface – which is then matched with a pre-registered profile to verify an individual’s identity.

“This is a substantially more reliable technique than using fingerprints,” Peter Jones, Hitachi’s head of security and solutions in Europe, told CNN.

“Our tests indicate there is a one in a million false acceptance rate — that’s as good as iris scanning, which is generally regarded as the most secure method.”

Unlike fingerprints, which leave a trace and can be potentially reproduced, finger veins are impossible to replicate, according to Jones, because they are beneath the surface of the skin.

“And before you ask, no — it doesn’t work with fingers that have been chopped off,” he added.

While the technology represents a step forward in reducing cases of identity fraud, Jones said that this is just one of many factors that have encouraged the Polish bank to adopt it. Read more…