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    UOB to launch NFC ATMs and instant credit card issuance

    UOB ATM

    MONEY ON TAP: NFC-enabled ATMs will mean contactless cash withdrawals for UOB users

    Customers of Singapore’s United Overseas Bank (UOB) will soon be able to withdraw cash from ATMs with a tap of their NFC mobile phone and get instant digital credit card issuance straight to their smartphones through the UOB Mighty host card emulation (HCE) based mobile payment service.

    The bank is preparing to launch the issuance feature by the end of October and is set to roll out its first NFC-enabled ATM by the end of this month, with a view to replacing its current fleet of cash dispensers by December 2018.

    “By the end of this month, UOB will roll out Southeast Asia’s first NFC contactless ATM,” UOB says. “This ATM will enable the bank’s customers to withdraw cash simply with a tap of their smartphones.

    “Customers with Mastercard credit and debit cards on Apple Pay will be the first to enjoy this service. By January 2017, at least 60 such ATMs will be in operation and, by December 2018, all its current ATMs will be replaced and new machines will be enabled with NFC contactless capabilities.

    Android phone users will be able to start tapping on these contactless ATMs using the UOB Mighty Pay app by January 2017. This will be available to UOB Mastercard cardmembers first and subsequently to UOB Visa cardmembers.”

    “The first wave of UOB Contactless ATMs will be rolled out to high-traffic locations such as Raffles Place, and selected UOB branches,” the bank adds. “Customers will be able to locate these contactless ATMs through the UOB Mighty app.

    “Existing UOB credit cardholders will be able to apply for, receive and use the most popular UOB credit cards through the UOB Mighty app by the end of October. This will enable them to take advantage of promotions specific to the credit card on the spot, or obtain a new card if they have misplaced it.”

    “We have seen monthly mobile contactless payments made on UOB cards grow by more than 20 times since the launch of UOB Mighty last November,” says Dennis Khoo, head of personal financial services Singapore at UOB. “This is why we are offering customers the option of using contactless technology to withdraw cash at ATMs.”

    In May 2016 the bank announced its plans to lift the S$100 (US$73) contactless transaction limit for NFC mobile payments at all of its point-of-sale terminals by the end of next year. With the removal of the limit, transactions through UOB Mighty Pay will have no restriction other than the customer’s own credit or debit card limit.

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