[Type text]

1|Page
[Type text]

DECLARATION

I, Komal Preet Kaur, student of M.B.A from Sun Institute Of Management and Technology,
Shahjahanpur, hereby declare that I have completed "CARDLESS ATM SERVICES" as part of
the course requirement.

I further declare that the information presented in this project is true and original to the best of
knowledge.

Komal Preet Kaur

2|Page
[Type text]

Table of content-
Sr.
Particular Page No.
No
1 Introduction 4
2 Objective 23
3 Research methodology 24
4 Data analysis 25
5 Finding a result 31
6 Limitation 32
7 Suggestion 33
8 Conclusion 34
9 Bibliography 35

3|Page
[Type text]

1- Introduction -
India's first cardless ATM facility launched. All we need to know this a forward step from using
UPI app on the mobile phone to any ATM but sans any cards Navroze Dastur, managing
director for India and regional vice-president for South East Asia at NCR Corporation said.
Using the facility, customers can withdraw cash using their mobile with any application which is
UPI enabled like BHIM, Paytm, GPay.

NCR Corporation, the maker of automated teller machines (ATMs), launched the first
interoperable cardless cash-withdrawal (ICCW) solution in collaboration with City Union Bank
on Thursday. The system is based on Unified Payments Interface (UPI) platform. The bank has
upgraded its 1,500 ATMs with the facility which will be QR code-based.
This a forward step from using UPI app on the mobile phone to any ATM but sans any cards
Navroze Dastur, managing director for India and regional vice-president for South East Asia at
NCR Corporation, told news agency PTI.
N Kamakodi, managing director of City Union Bank said that this facility is a next-generation
solution and will ease be very helpful for the customers. "We have partnered with NCR to
deliver ICCW solution that will enable us to deliver this next-generation solution to our
customers which will allow them card-less cash withdrawal using UPI QR code at our ATMs,"
Kamakodi said, according to news agency PTI.
Here’s everything you need to know about the first cardless cash-withdrawal facility:
1. Using the facility, customers can withdraw cash using their mobile with any application which
is UPI enabled like BHIM, Paytm, GPay.
2. Customers will not be required to swipe or carry cards while visiting such ATMs as they just
need to scan the QR code on the screen. After this, the customers need to authorise the cash
withdrawal through their mobile phone.
3. In order to increase the safety of the transactions, the QR code will be changed frequently. As
the traction is based on a dynamic QR code, the QR code cannot be copied as with each
transaction the code changes.
4. The withdrawal limit for such transactions is capped at ₹5,000
5. Customers will be able to avail this dynamic QR code-based interoperable cardless cash
withdrawal facility from any ATM of any bank if they have been upgraded.

4|Page
[Type text]

Cardless ATM work-

Cardless ATMs connect your digital debit card information to the ATM using a few different
kinds of technology.

(i) App-Generated Codes

(i-a) QR Code -
QR (Quick Response) codes are codes similar to barcodes that you scan with your mobile
device’s camera. However, since QR codes are more complex in design, they can communicate
more information than a barcode.
For cardless ATMs enabled with QR code technology, the ATM will generate a QR code and
display it on the screen. Then, you’ll use your mobile banking app to scan the code for identity
verification. Once your identity is verified with the mobile banking app after the scan, you’ll be
able to complete your transaction. BMO Harris Bank is one example of a bank that uses QR code
technology with its cardless ATMs.

Diagram of a QR code –

5|Page
[Type text]

(i-b) Verification Code-

 Verification codes act much like two-factor authentication for online logins, adding a layer of
security. With verification code technology at cardless ATMs, you’ll use your mobile banking
app for the majority of your transaction.
Inside your bank’s app, you’ll log in and indicate what kind of transaction you want to make
(including deposits, withdrawals and other banking functions). The app will generate a unique,
one-time verification code that you’ll enter into the ATM along with your PIN. The verification
code won’t work again after you complete your transaction and generally expires after 30
minutes.

A verification code is a security protection method used by form owners to avoid Internet robots
from abusing and spamming their web forms. There are different verification code types, but the
most commonly used are CAPTCHA and Smart Captcha. A randomly generated code appears in
an image above a textbox where the visitor has to type the exact code in order for the form data
to be sent. Each time the form is accessed, a different code will appear.
Owners can deactivate the verification code of their web forms, although this would increase the
vulnerability of the forms to spamming attacks. The verification code is linked to the entire form,
so if it is not completed properly, the information on the web form will not be sent 123 Form
Builder encourages its users to use verification codes whenever possible on their forms. You can
find the option in the Security section of the web form within the 123 Form Builder account.

(i-c) Biometric Verification

Any device that uses biometric data uses your physical attributes (face, fingerprints, eyes or palm
print) to verify your identity. If your phone or laptop unlocks with a fingerprint or facial
recognition, you’re already using biometric verification.

6|Page
[Type text]

If your bank uses biometrics, you submit the requested biometric data through a scan through the
bank, which securely stores that information. Then, when you access a cardless ATM with
biometric verification, the machine scans your fingerprint, iris, face or palm print and compares
it to the data you have on file at the bank. It confirms your identity before granting access to your
cash or other account functions. Biometric verification is an identity authentication process used
to confirm a claimed identity through uniquely identifiable biological traits, such as fingerprints
and hand geometry.

Diagram of Biometric verification -

7|Page
[Type text]

(ii) Near-Field Communication (NFC)

Near-field communication (NFC) is a close-range technology that allows you to hold up your
mobile device to a receiver and transmit data within a short-range via a radio frequency. If
you’re using tap-to-pay technology such as Android Pay, Apple Pay, Samsung Pay or even a
credit card with an NFC chip, you’re already a seasoned user of NFC tech.

At cardless ATMs enabled with NFC technology, you simply hold up your mobile device with
the mobile wallet or banking app open to the ATM’s NFC receiver. Once the machine verifies
it’s received your information, you use the ATM as if you’d inserted your debit card.

There was a time when people had to exchange things for the things they needed. We then
moved to currency money, which became easier to manage and store when banks came into the
picture. Then we had the glossy plastic credit and debit cards of course, which made our lives
smooth as butter. Now, there is a new wave of innovation in the financial services industry. Near
Field Communication technology (NFC) aims to make banking futuristic. Imagine walking in to
a convenience store and paying for stuff in seconds by tapping your phone on the counter. Or
better yet, paying with your wristband or watch. What we are describing to you is a future where
the wallet, paper ticket, loyalty card, purse and credit and debit card have all gone digital.  It is a
short-range, wireless link based on radio-frequency identification technology (RFIT) that has the
ability to transfer small amounts of data between two devices held close to each other.

The SIM card in a phone acts a smart card that identifies your account to a network. On NFC
phones, the SIM card acts a Secure Element that can hold other apps such as payment cards. For
banking, NFC identifies an individual and his/her bank account information to a computer
device.Similar ideas in advertising and industrial applications were not generally successful
commercially, outpaced by technologies such as QR codes, barcodes and UHF RFID tags. NFC
protocols established a generally supported standard. When one of the connected devices
has Internet connectivity, the other can exchange data with online services.Near-field
communication (NFC) describes a technology which can be used for contactless exchange of
data over short distances. Two NFC-capable devices are connected via a point-to-point contact
over a distance of 0 to 2 cm. This connection can be used to exchange data (such as process data
and maintenance and service information) between the devices. This interface can be used for

8|Page
[Type text]

parameterization of the component as well.NFC-enabled portable devices can be provided

with application software.

Every active NFC device can work in one or more of three modes:

NFC card emulation

Enables NFC-enabled devices such as smartphones to act like smart cards, allowing users to
perform transactions such as payment or ticketing.
NFC reader/writer
Enables NFC-enabled devices to read information stored on inexpensive NFC tags embedded in
labels or smart posters.
NFC peer-to-peer
Enables two NFC-enabled devices to communicate with each other to exchange information in
an ad hoc fashion.

Standards were provided by the NFC Forum. The forum was responsible for promoting the
technology and setting standards and certifies device compliance. Secure communications are
available by applying encryption algorithms as is done for credit cards and if they fit the criteria
for being considered a personal area network

9|Page
[Type text]

(1.c)Operation modes on NFC devices

(i) Reader / Writer mode

The NFC Forum Device operates like a contact-less reader device which is able to communicate
with contact-less tags or cards. A typical use case is to read smart posters, opening a specific
internet web site for example.

10 | P a g e
[Type text]

(ii)Peer-to-Peer mode

Two NFC Forum Devices are touched together to exchange data. This mode is used to easily
exchange the contact data of the device users for example.

11 | P a g e
 [Type text]

 How to Cardless ATM Access?

Cardless ATMs allow you to get money and conduct other transactions without swiping or
inserting your dabit card into a card reader. Instead of requiring a card, these ATMs use different
types of technology (which are explored in detail below) to link a mobile app on your phone to
the ATM. Once you complete additional security steps, you’ll be able to conduct your business
at the ATM just as you would if you’d inserted a card.
Cardless ATM access isn’t new. Bank of America launched a cardless ATM back in 2016 and
several other banks like Chase, Wells Fargo and BMO Harris have all empowered their ATMs
with cardless access.

If you’re a fan of mobile wallets and touch-to-pay technology, your debit card just got an
upgrade. Cardless ATMs allow users to access their cash without a physical debit card, making it
possible to travel light and not sweat the need for cash if you happen to have left your wallet at
home. And don’t worry cardless ATMs come complete with additional security features to
ensure that your cash stays safe, even if your mobile device goes missing.

If you appreciate the ease that mobile banking adds to your life, cardless ATMs can add another
layer of access that aligns with your lifestyle. However, if you choose to use cardless ATM
functions through your bank’s mobile app, be sure to make your phone as secure as possible
through your phone’s built-in security functions. If available, you can turn on two-factor
authentication with your bank’s mobile app to add another layer of login security to your
banking experience.

12 | P a g e
[Type text]

 Drawbacks to Cardless ATMs-

 For all their security enhancements and ease-of-use features, cardless ATM access does
have some drawbacks.
 Device compatibility-
Your phone must be compatible with your bank’s mobile app to use a cardless ATM. Be
sure to ask your bank about the types of devices that will work with their app.

 Mobile device loss -

If your phone is lost or stolen, you could be at risk for thieves to access your bank
account if you don’t have additional security features activated on your phone. To help
prevent unauthorized access if you get separated from your phone, be sure to use your
phone’s security features such as screen lock and remote data wipe capabilities to protect
your device.

 Proliferation -
While cardless ATMs are rising in popularity, they’re not the norm yet. While you might
be able to use cardless access when using your bank’s ATMs, you may still have to carry
a card to use other ATMs while traveling to locations where your bank doesn’t have
physical branches. However, if you choose to use cardless ATM functions through your
bank’s mobile app, be sure to make your phone as secure as possible through your
phone’s built-in security functions. If available, you can turn on two-factor authentication
with your bank’s mobile app to add another layer of login security to your banking
experience.

13 | P a g e
 [Type text]

 Benefits to Cardless ATMs?

For those excited about ATMs catching up with the mobile app lifestyle, cardless ATMs offer
several benefits. You get the convenience of having your debit card with you whenever you have
your phone on hand. And you can also enjoy the same seamless, digital experience you get when
paying via mobile at your favorite merchants.In addition to convenience, here are some
additional benefits to cardless ATM access:

 Broad account access-

With more banks enabling cardless ATM access, you’ll benefit from being able to access
multiple bank accounts digitally. If you’ve been frustrated by out-of-network ATM fees, cardless
access makes it easy to switch debit cards via your mobile device. You can use a debit card
linked to an account that’s in-network at a particular ATM, saving you from unnecessary fees.

 Less contact-
If the pandemic’s made you more aware of how many things you touch each day, you’ll
appreciate how cardless ATMs cut down on contact. While they don’t eliminate the need to
touch an ATM, you’ll do more of the transaction on your familiar mobile device instead of via
the ATM.

 Security-
Cardless ATMs take previous debit card security risks like skimmers out of the equation while
adding identity verification layers like biometrics, verification codes and QR codes to keep your
account access secure.
 Faster Transactions –
Card-less Cash withdrawals take about 15 seconds from start to finish. This is in sharp
contrast to traditional card-based transactions that can take anywhere from 45 seconds to
several minutes. By Setting up the transaction in advance we can reduce our time spent in
ATM.

14 | P a g e
 [Type text]

 Improvised safety & Security –

Debit card information isn’t stored directly on the smartphone. Even if a thief gets his hands
on a user’s device, he doesn’t necessarily have access to that user’s banking data. We don’t
have to worry about losing a card or forgetting PIN.In addition, cards can occasionally get
stuck. Unlucky users may have to wait an entire weekend before getting in touch with their
banks to resolve the issue.
 P2P payments-
Another compelling benefit of Card-less Cash withdrawal ATM transactions – specifically
cash-by-code transactions – is the opportunity for customers to initiate P2P payments.
Customers can set up the transaction using their banking app, and send the code to friends,
family, etc. for them to withdraw the funds from an ATM.
 Convenience of usage-
Now we need not carry Debit or Credit card for withdrawal of cash. Card-less Cash
withdrawal ATMs join a long list of mobile payment options that have already taken the
retail and restaurant industries by storm. The problem of the account being hacked or any
fraud from card loss or theft will have a full stop.

 Cardless Cash Withdrawal-

They have a three types of withdrawal.

1. Firstly, request for cardless cash withdrawal from the mobile app.
 To do so, go to the ‘services’ option in the banking app and click on ‘cardless cash
withdrawal’ for self.
 You will then be asked to enter the amount, your 4-digit temporary PIN and select the
account number from which the amount is to be debited.

15 | P a g e
 [Type text]

 You then need to confirm the details displayed on the screen and click on ‘submit’.
 On transaction completion, you will receive a success message on the screen.
2. SMS from the bank.
Next, you will receive an SMS with a unique code on your registered mobile phone from the
Bank. Keep that code saved. To use cardless cash withdrawal, you need to first download the
respective bank’s mobile app, for instance for ICICI bank customers, they need to download the
iMobile app on their smartphone from Play Store or App Store. Once you have downloaded your
bank’s mobile app, you can now visit the specified bank ATM to make a cardless withdrawal.

3. Cash withdrawal from the bank ATM.

After processing the cash withdrawal request on the app, you need to visit the specified bank
ATM, to withdraw cash.
 In the ATM, you need to enter your registered mobile number
 The temporary code which you have set. (If there is/in case of ICICI bank)
 The unique code that you have received via SMS.
 Put in the exact withdrawal amount, that you have entered earlier.
 Once all these parameters are successfully authenticated, cash will be dispensed.

 Can cardless withdrawal be done on any ATM -

16 | P a g e
[Type text]

The company is providing UPI-enabled interoperable cardless cash withdrawing system in the

country. Under this system, anyone can withdraw cash from the ATM by just scanning the QR
Code through the UPI App. Withdraw cash from ATM without using Debit cardThe company is
providing UPI-enabled interoperable cardless cash withdrawing system in the country. Under
this system, anyone can withdraw cash from the ATM by just scanning the QR Code through the
UPI App.
Now you can withdraw money from ATM without using a debit card. National Cash Register
(NCR) Corporation, a firm that makes ATMs, has come up with a concept where people can
withdraw money without using card. 

The company is providing UPI-enabled interoperable cardless cash withdrawing system in the
country. Under this system, anyone can withdraw cash from the ATM by just scanning the QR
Code through the UPI App. 
The firm has partners with the National Payments Corporation of India (NPCI) and City Union
Bank to provide the facility to withdraw cash from ATM without a card. More than 1,500
Automated Teller Machines have been modernized to provide this service to all the ATM users. 
NCR Corporation said that it will soon upgrade more ATMs to extend the facility to more
people.

17 | P a g e
 [Type text]

 The services provided by ATM-

 Apart from cash withdrawal and checking account balance, ATMs today offer

multiple facilities for the convenience of bank customers.

 Open or withdraw a fixed deposit. ...

 Recharge your mobile. ...

 Pay income tax. ...

 Deposit cash. ...

 Pay insurance premium. ...

 Apply for personal loan. ...

 Transfer cash. ...

 Pay your bills.

18 | P a g e
 [Type text]

 What banks do cardless ATM?

Major banks like Chase, Bank of America, and Wells Fargo offer cardless ATMs. Near-field
communication (NFC), QR codes, and biometrics are common technologies used for cardless
ATMs.

It’s easier than ever to pay for things electronically, eliminating the need to handle cash. You can
use your phone’s mobile wallet as a replacement for payment cards, and you can even use your
phone for cash withdrawals at an ATM.

You probably take your mobile device everywhere you go, and that might include short trips
when you leave home without a debit card. Learn how cardless ATMs work so you can decide
how to make your next withdrawal.

Key features-

 Cardless ATMs allow you to withdraw cash without an ATM card

 Major banks like Chase, Bank of America, and Wells Fargo offer cardless ATMs.
 Near-field communication (NFC), QR codes, and biometrics are common technologies
used for cardless ATMs.

19 | P a g e
 [Type text]

 Advantages of Cardless ATM service

 For Customer initiating the service

 Send cash anywhere in India
 Send cash 24X7 including holidays
 The beneficiary need not have any bank account
 Safe and secure mode of cash transfer using Corporate Internet Banking
 For Beneficiary receiving the funds
 No need to have any bank account
 Receive cash from anywhere in India
 Receive cash instantly including holidays

20 | P a g e
 [Type text]

 Understanding Card-less cash withdrawal technology -

With technology penetrating every walk of life, banks are trying to improve customer services
with new modes of monetary transactions that are convenient and secure. Now, you don’t have
to carry a Debit Card or hold a bank account to withdraw money. Card-less Cash withdrawal are
making their way into the system to make our lives easier. This method can be a game
changer. So, how does it work? The process differs slightly from bank to bank. However, in
general, you would need to use the bank’s mobile banking app. Once you log in to the app, you
will need to initiate the transaction and provide the amount you wish to withdraw. A temporary
PIN will be generated which you will enter at the ATM after choosing the option for Card-less
Cash withdrawal. One of the major advantages of using a Card-less Cash withdrawal service is
that it eliminates the need to carry a Debit or Credit Card. Hence, it’s safe and reduces the risk
of fraud mainly skimming and cloning of your cards. 

21 | P a g e
[Type text]

22 | P a g e
 [Type text]

 Challenges:

While Card-less Cash withdrawal ATMs are considered to be safer than using your
physical card, the security of this method is still a bit of a mixed bag. If you’re worried
about ATM skimmers or theft, you may be relieved to not have to risk it with your
physical card. (You do, however, need to keep tabs on your phone if you’re going out
wallet-free.)
More limitations come regarding the amount allowed to withdraw, a number of
transactions, the time required to enter a verification code, or availability of the Card-less
Cash withdrawal ATMs nearby.
There are few challenges that we must take care of before using the Card-less Cash
withdrawal cash withdrawal which are stated as below –

 Cash withdrawal limit – Customer can withdraw a specific amount within the min and max
range as per the bank regulatory requirements.
 Customer Type – As of now, banks offer this service to their savings bank customer
 Charges- For every card-less cash withdrawal transaction, bank will charge the customer a
specific amount of fee which varies from bank to bank.
 Card-less Cash withdrawal ATM – According to research, 78% of consumers would rather
use a Card-less Cash withdrawal ATM solution than carry a physical card. Therefore,
installing those machines is just a reasonable answer to public demand. Their main
prerogative is convenience.

23 | P a g e
[Type text]

2. OBJECTIVES OF CARDLESS ATM SERVICES -

1. The cardless ATM allows account-holders to withdraw cash from the ATM without a card.
Instead a set of verification codes are used to identify the customer. It also allows non account-
holders to perform the withdrawal using a verification code.

2. The Cardless ATM also allows the transfer of cash between bank accounts.

3. ATM technology so far looks to be safer than other forms of communication. Because the
range is so short, hackers would have to be almost impossibly nearby to jack your info. Even
then, they’d have to do it when you were intentionally transmitting that information (say, to buy
groceries); it wouldn’t work all the time. However, it’s possible you might establish
communication with a fraudulent tag, or that a business might keep your information and sell it.

4. If you consider it easier to use a single mobile device to make payments, gain entrance, enable
transportation, read information and share with friends easier, then yes. It will make your life
easier.

5. If we compare NFC and ATM then NFC Technology is More Secure than EMV. NFC
technology offers three key security features – biometrics, secure element chips and tokenization.
These elements are exponentially more secure than EMV because they are unique to a specific
device and individual user.

24 | P a g e
[Type text]

3- RESEARCH METHODOLOGY -

1.DATA COLLECTION.

PRIMARY and SECONDARY DATA: Data was collected through questionnaire and internet.

2. SAMPLING SIZE.

In all approximately 36 respondents were chosen on a convenience sampling basis.

3. SAMPLING AREA.

The sample of survey respondents comprises of people of spn.

4. SAMPLING TECHNIQUES.

Non-probability sampling techniques were used under non-probability technique, convenience

sampling techniques were used.

5.STATISTICAL TOOLS .

Ms. excel, google form.

25 | P a g e
[Type text]

(4)- DATA ANALYSIS -

We have refered to this detail websites for collecting data on cardless ATM services based on
the data be have frame of some question for the prospective audience. Please refer below for
thesome question saulted with in the question. Near field communication uses
electromagnetic radio fields to allow two compatible devices to exchange data and share
information when passed close to each other. Typically the devices must be within four to five
centimetres of each other to work. This is in contrast to far field communication which
operates across great distances.
Your smartphone or other NFC compatible device sends out radio frequency signals that
interact with an NFC tag found in compatible card readers and smart posters. The signal
creates a current that flows through the NFC tag and allows the device and the tag to
communicate with one another. Typically one device, the tag, is passive and only sends out
information while the other device, the smartphone in this case, is active and can both send
and receive information.
NFC provides numerous ways to make payments, retrieve information, and even exchange
videos or information with friends on the go. Swiping your smartphone at a supermarket
checkout instantly pays for your groceries without digging into your wallet for a credit card.
Passing your phone over a friend’s phone allows you to share a website link while waving the
phone in front of a poster or display with a NFC tag in it shows information about what you’re
viewing. This is an excellent way to learn more about exhibits in a museum or upcoming
events in your community.
Some smartphones have NFC integrated into the smartphone itself while others can use NFC
when a SIM card or microSD card compatible with QR verifiaction is installed. Checking
your phone manufacturer’s website and pulling up your specific model should present a list of
features and will include if it is available. Well-known NFC compatible phones include
Google’s Nexus S, Samsung’s Galaxy S II, and the BlackBerry Bold (versions 9900 and
9930).
Near field communication technology is expanding and will be available on both SIM cards
and microSD cards. Purchasing one of these two cards and inserting it into your smartphone
lets you use NFC technology as long as you don’t remove the card.

26 | P a g e
[Type text]

Do you know about the cardless ATM services?

yes
No
Maybe

Based on the above detailed description on cardless ATM service, would you like to use
cardless ATM serviceses in your daily life?

Yes
No
Maybe

NFC technology can be useful on offline mode, would you prefer to use NFC? for e.g
transactions in flights can be easily made through NFC technology.

Yes
No
Maybe

NFC can be a better alternative for online platform for sharing files and information. Would
you like to use NFC for file sharing?

Yes
No
Maybe

If any online platform technology like NFC can secure online transactions and will restrict
fraud which are happening now a days, then would you like to use this technology?

Yes
No
Maybe

Do you use smart phones for online transactions?

Yes

27 | P a g e
[Type text]

No
Maybe

Do you know about the cardless ATM services?

28 | P a g e
[Type text]

29 | P a g e
[Type text]

30 | P a g e
[Type text]

31 | P a g e
[Type text]

(5-) Finding A Result -

Based on the research methodology which I have followed to carry out this analysis, I have
created a Google form containing some questions on Cardless ATM serviceses as discussed
above. Based on the response which I have recieved, I have reached to a conclusion that
maximum of the audience has given a green flag to this technology and have appreciated the
features which I have discussed on the form. Summarising it we can say that this Cardless ATM
technology can make its presence in the market and will be a successful technology platform for
its users.

32 | P a g e
[Type text]

6- LIMITATIONS OF CARDLESS ATM SERVICES –

 Firstly, request for cardless cash withdrawal from the mobile app.
 To do so, go to the ‘services’ option in the banking app and click on ‘cardless cash
withdrawal’ for self.
 You will then be asked to enter the amount, your 4-digit temporary PIN and select the
account number from which the amount is to be debited.
 You then need to confirm the details displayed on the screen and click on ‘submit’.
 On transaction completion, you will receive a success message on the screen.
 Next, you will receive an SMS with a unique code on your registered mobile phone from
the Bank. Keep that code saved.
 Cash withdrawal from the bank ATM
After processing the cash withdrawal request on the app, you need to visit the specified
bank ATM, to withdraw cash.
 Mafia Fraud attack or the relay attack can defeat the protocols with a assumption of
proximity by placing two special communication devices (called the “ghost” and the
“leech”) between the victim reader and the victim tag. This range extension by the attackers
can lead to high level of insecurity especially in the case of NFC-enabled transactions.


33 | P a g e
[Type text]

7- SUGGESTION –

1. Add a multi-factor authentication feature Simply requiring the submission of a single

password before granting access to your customer’s bank account is a defense system which can
be beaten.By adding a multi-factor authentication feature such as generated one-time passwords
or fingerprints – you add an additional layer of defense which cannot easily be deceived.

2. Automated Teller Machine (ATM) transactions are found safe, reliable and inevitable these
days for fulfilling our financial commitments.

3. Fingerprinting device Introduction of Fingerprinting devices adds another dimension in

banking mobile apps. It obtains various sets of signals such as IP address, location, time of the
day, device type, location, screen seize, browser etc.

4. Utilize behavior analysis there is specialized software on the market that will monitor and
analyze the login location and activity and online account activity of consumers.Thanks to this
technology, your mobile banking app could flag abnormal behavior or further
investigation.Further investigation could be an email or text alert to the customer advising of
suspicious activity, or a call from the bank further investigating the suspicious activity.

5. Offer real-time text and email alerts it is safe to assume someone using mobile banking on
their smartphone has direct access to their email and/or text messages.

34 | P a g e
[Type text]

8- CONCLUSION -
Using the facility, customers can withdraw cash using their mobile with any application which is
UPI enabled like BHIM, Paytm, GPay. 2. Customers will not be required to swipe or carry cards
while visiting such ATMs as they just need to scan the QR code on the screen.Near Field
Communication (NFC) as a promising short range wireless communication technology facilitates
mobile phone usage of billions of people throughout the world that offers diverse services
ranging from payment and loyalty applications to access keys for offices and houses. Eventually
NFC technogy integrates all such services into one single mobile phone. NFC technology has
emerged lately, and consequently not much academic source is available yet. On the contrary,
due to its promising business case options, there will be an increasing amount of work to be
studied in the very close future. This paper presents the concept of NFC technology in a holistic
approach with different perspectives, including communication essentials with standards,
ecosystem and business issues, applications, and security issues. Open research areas and further
recommended studies in terms of academic and business point of view are also explored and
discussed at the end of each major subject’s subsection. This comprehensive survey will be a
valuable guide for researchers and academicians as well as for business world interested in NFC
technology.

35 | P a g e
[Type text]

9-BIBLOGRAPHY -
https://www.google.com/search?
q=cardless+atm+service+about&oq=&aqs=chrome.1.69i59i450l8.2844496j0j7&sourceid=chrome&ie=UTF-8

https://www.google.com/search?nfpr=1&sxsrf=ALeKk03zSn0-
gYHLMjj_HYO4hxDU3mQa3Q:1627177264734&q=suggestion+of+cardless+atm+service&spell=1&sa=X&ved=2
ahUKEwix2ebWi_3xAhXU4HMBHV3NBX0QBSgAegQIAhAw&biw=1366&bih=657

https://www.researchgate.net/figure/Summary-of –SE-

Alternatives_fig2_257675463

https://mail.google.com/mail/u/0/#inbox/QgrcJHrhzcnmcbbGBsfQQgPfRmkpBqkSWVQ

https://www.google.com/search?
q=nfc&oq=nfc&aqs=chrome.0.69i59l4j69i60j69i61j69i60l2.3337j0j7&sourceid=chrome&ie=UTF-8

https://www.google.com/search?sxsrf=ALeKk00K86b5bd4gnO4mOUPkv5qgm7ah1A
%3A1615133563994&ei=e_tEYOWdPNDc9QPv4Y6ICA&q=nfc+full+form+in+banking&oq=nfc&gs_lcp=C

36 | P a g e