Today, OCBC Bank announced that it will now let customers
withdraw cash at ATMs by scanning a QR code using the OCBC Pay
In the press release, OCBC Bank reported that while mobile
banking usage has tripled, there are still 3 million cash
withdrawals being made each month at OCBC Bank’s ATMs
– a figure unchanged from last year.
With the new initiative, the process of cash withdrawals will be
also reduced from 80 seconds to under 45 seconds.
Customers will also need to authenticate the transaction
via fingerprint, ‘faceprint’, or mobile banking login
credentials, “a more robust security feature than a PIN
number that can be revealed or stolen”.
Mr Aditya Gupta, Head of Digital Business, Singapore and
Malaysia, OCBC Bank said: “We believe this completely reimagines
a core service for which customers engage with the banks and will
move the needle in making QR code payments mainstream in
To make a QR code cash withdrawal, customers will need to:
Step 1: Click on “Withdraw cash with OCBC
Pay Anyone” on ATM screen
Step 2: Log into OCBC Pay Anyone app
Step 3: Scan the QR code on the ATM screen
Step 4: Select the amount to withdraw or key
in your preferred amount
Step 5: Cash is dispensed from ATM
The service is now available on all OCBC Bank ATMs except 22 new
ATMs which accept both coin and cash deposits.
Forgot Your OCBC Bank Card? You Can Now Withdraw Money With QR
Codes appeared first on Vulcan Post.
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