A new era at ATMs: Bank cards may become a thing of the past

The banking sector in Turkey continues to be one of the areas most affected by the wave of digitalization. As a rapid digital transformation gains momentum at ATMs, mobile applications and contactless technologies have begun to replace traditional plastic cards.

Plastic ATM cards, which have been an indispensable part of life for many years, are being used less and less, especially with the widespread adoption of mobile banking. Research shows that users now prefer to conduct their financial transactions via their mobile phones. The rise of this trend has also led to significant changes in ATM infrastructure.

Most of the new-generation ATMs introduced by banks in the recent past offer the ability to withdraw or deposit money without the need to insert a card, thanks to QR codes. Bank customers can determine the amount they wish to withdraw through their mobile banking application and complete their transactions in a few seconds by scanning the QR code on the ATM screen.

ADVANTAGES BROUGHT BY QR CODES

While issues such as card jamming or the ATM retaining the card are frequently encountered in transactions made with traditional bank cards, the QR code system completely eliminates such technical problems. It also offers an additional layer of security against risks such as card cloning and the theft of password information by malicious individuals.

This new method is also supported by biometric measures such as facial recognition or fingerprint verification active in mobile banking applications. Thus, a dynamic and single-use digital password is generated for each transaction, maximizing transaction security.

Contactless solutions that work integrated with mobile technologies have started to receive more attention, especially with the increased sensitivity to hygiene following the pandemic period. Users enjoy the convenience of completing their transactions practically without touching ATM buttons.

PLASTIC CARD USAGE MAY DECLINE

Experts predict that this change will fundamentally affect the banking sector within a few years and that the use of plastic cards will decrease significantly. Thanks to this application, which offers advantages not only in terms of security and speed but also in terms of the environment, banks will be able to reduce card production and distribution costs and also decrease the formation of plastic waste.

The acceleration of digitalization in banking is expected to lead to more widespread use of QR code-supported ATM transactions in the coming period. Customers will now be able to handle their banking transactions in seconds with their mobile phones instead of searching for cards in their wallets.

News Source: 12punto