Withdrawing cash with iPhone coming to 70,000 ATMs in U.S.

PanARMENIAN.Net - We already have contactless payments to make our lives a littler easier, but now it looks like typing in your PIN at all could soon be a thing of the past. But only if you live in the U.S. and have an iPhone.

As Digital Spy reports citing Mashable, FIS and Payment Alliance International have announced a partnership that will enable cardless cash withdrawals at 70,000 ATMs at U.S. retailers.

The deal will see customers use an app on their iPhone to withdraw cash, with the transaction being authenticated by your fingerprint via the phone's Touch ID sensor.

Speaking of the new plans, FIS said: "The mobile banking app acts as a remote control for the ATM, providing unparalleled privacy and security for consumers."

The scheme aims to eliminate the threat of card skimmers being used to steal your information as it avoids the use of cards completely.

The cash withdrawals will take 10 seconds and an electronic receipt will be sent directly to your iPhone once the transaction is completed.

There has been no mention of support for Android devices as yet, so it's looking like only iPhone users will benefit from the new project for the time being.