More Security and Convenience when Withdrawing Cash

Due to the widespread use of the mobile phone and the very high level of acceptance of mobile telephones, an ever-present companion has been created that is able to replace the traditional wallet.

Via the »rea-dy« JAVA client on the mobile a dynamically generated transaction number (TAN) is requested. It can only be used once within a certain restricted time frame in connection with a cash dispenser. That makes this solution much safer by far compared to EC card PIN numbers that can be spied on.

The TAN is entered via the entry pad of the cash dispenser, the payment is checked and then released in connection with the TAN and the number of the dispenser.

With NFC technology finding its way into mobile terminals, TAN is transmitted even quicker and more conveniently: "Touch and Cash“.

The advantages:

• Easy handling and integration in already existing infrastructures and processes at cash dispensers
• Easy to handle and no hassle for the user
• Safe withdrawal of money by using a non-recurrent and time restricted valid transaction number. High level of security through using a non-recurrent and time restricted transaction number (TAN); stolen EC cards and PIN numbers that can be spied on are things of the past
• Transmission of the TAN by NFC accelerates payment processes and makes them more convenient to handle.

 

Withdrawing Money with a Mobile Phone – NFC Solution

Withdrawing Money with a Mobile Phone – conventional

Additional Information

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