Expanding services such as cash deposit with convenience store ATM smartphone application

Services such as cash deposit spread with convenience store ATM smartphone application 5:43 on August 31st

Even if you do not have a cash card, services that allow you to deposit and withdraw cash at ATMs at convenience stores using smartphone applications are expanding.

Of these, "au Jibun Bank" started a service that allows you to withdraw and withdraw cash at ATMs at convenience stores from August 24, using a smartphone app instead of a cash card.

For example, when withdrawing cash, first launch the smartphone application and enter the amount to withdraw. After that, you can withdraw cash by reading the QR code displayed on the ATM screen with your smartphone and entering your PIN.

With the spread of cashless payments, even if you suddenly need cash, you can use a smartphone to deal with it and improve convenience.

This service is available at approximately 38,000 ATMs at Lawson Bank and Seven Bank.

“We want to use our smartphones not only to withdraw and withdraw cash, but also to develop a variety of services,” said Yoshikazu Miyaki, deputy director of au Jibun Bank's Innovation Business Division.

Similar services have been introduced by some regional banks such as Hokuetsu Bank in Niigata Prefecture, and it is expected that more financial institutions will be available in the future.

Presence of convenience store ATM

Seven ATMs and Lawson Banks have installed ATMs in their convenience stores, etc., and as of the end of June, the total number of ATMs in Japan is about 38,000.

On the other hand, the ATMs of the five major banks totaled more than 23,000 as of the end of September last year.

This is because the operating costs of ATMs such as cash replenishment and system updates are high while the profit environment is becoming severe due to long-lasting low interest rates.

Due to these factors, the presence of ATMs operated by convenience store banks is increasing year by year.

Banks at convenience stores use fees received from partner financial institutions as a source of income, and Fumitaka Takagi, an executive officer of Lawson Bank, said, "We are planning to expand the transaction of smartphones to more regional banks. We would like to further expand and develop various services."

How secure is the service?

How is this service secure?

To withdraw and withdraw cash from an ATM, you need to read the QR code displayed on the ATM with your smartphone.

According to Lawson Bank, etc., this QR code is encrypted and can be used only once, and the data will be invalid after a certain period of time.

Also, it means that smartphone apps are also protected by passcodes.

The procedure for operating an ATM or smartphone in a single transaction is a lot more complicated than when using a cash card to withdraw and withdraw cash.