Barclays Trial First Contactless Mobile Cash Service

Tyrone Stewart

barclays-combo.pngBarclays has launched the first contactless mobile cash service, allowing customers to withdraw up to £100.

The service will operate solely on NFC-enabled Android smartphones that have the latest version of the Barclays Mobile Banking app.

With the new services, customers will have two ways to withdraw cash using their smartphones. Customers can insert an amount that they wish to withdraw, along with their PIN, into their Mobile Banking app. They will then have 30 seconds to tap their phone against the contactless reader on the cash machine to see their cash automatically dispensed.

The other option is to tap their Android device on to the reader, before entering their PIN, and proceeding to withdraw their cash as normal.

Barclays suggests that this method of cash withdrawal increases security by removing the risk of card skimming and distraction fraud.

Barclays UK CEO Ashok Vaswani said: “We are always looking for new ways to make our customers lives easier and their finances even more secure… With Contactless Cash, customers can quickly and securely take-out money with just the tap of their smartphone – a first for the UK.”

The service will also be available using a contactless debit card. It will be initially piloted in the North of England before rolling out to 180 branches in the New Year. It will be available on over 600 in-branch cash machines.

iPhone users won’t be able to access the service because the iPhone’s NFC chips are limited to use on Apple Pay and do not allow access to third-party apps.