Open cardless cash network Pin4 has launched in New York City, Miami, Los Angeles and Chicago through a partnership with Payment Alliance International.
Through the partnership with Payment Alliance International, one of America’s largest independent ATM companies, Pin4 offers peer-to-peer transfers, promotions, rewards fulfillment and other cash disbursements to customers without the ATM or bank account requirement.
“By enabling ATMs in the four largest cities in America, we will not only have a large concentration of ATMs equipped to offer cardless cash withdrawals, but will also be uniquely positioned to bring new and innovative solutions that will redefine the ATM marketplace,” Pin4 CEO Richard Witkowski said.
“Cash isn’t going anywhere,” Mr. Witkowski continued. “and as companies and consumers increasingly look for mobile solutions that reach beyond simple cash withdrawals, our technology is the very first to equip ATMs to facilitate P2P transfers as well as rewards and promotion redemptions. With Pin4, ATMs become mobile money terminals.”
Pin4’s security measures include dual-pin authentication. A secure PIN is sent to the recipient’s phone. That code, along with one provider by the payment sender are entered by the recipient. The cash can be picked up at a participating ATM, which the Pin4 app identifies, within minutes
“We are pleased to partner with Pin4,” said John J. Leehy III, President and Chief Executive Officer of Payment Alliance International. “This has the potential to drive millions of new mobile transactions to participating ATMs and increase foot traffic for our retail clients.”
Pin4 expects to be nationwide by the end of 2016.
Learn more about Pin4