SIBS establishes cardless ATM withdrawals

Payment processing and financial technological service provider SIBS has launched a new cardless smartphone-ATM-based feature.

Titled “Utilizar MULTIBANCO”, the feature provides consumers the ability to access any ATM from Multibanco’s Network only using the smartphone. 

“At SIBS we work every day to improve and make easier Portuguese’s daily life through innovative and disruptive solutions,” commented Maria Antónia Saldanha, brand and communication director, SIBS.

To gain access to the ATM and a person’s account, users must select the “Utilizar MULTIBANCO” option before reading the QR Code displayed on the screen with MB WAY.

MB WAY is Multibanco’s mobile banking app solution in Portugal with over 1.5 million users that make about 5 million operations per month.

Launched in 2015, MB WAY processes eight different operations including NFC and QR Code based initiatives/purchases.

After an in-app authentication (either PIN or biometric) the ATM is unblocked and the user can access the menu and “majority of the ATM’s operations.”

Cardless withdrawals is only available in Portugal.

“In an increasingly digital and cashless society, it’s essential that we could access any ATM without a bank card in our hand, since we tend to forget it in a pocket or at home,” continued Saldanha.

“To take a step forward on this evolution, MB WAY has launched a revolutionary feature that allows its users to access the majority of the ATM’s operations. And that’s why we say that the wallet can stay at home.”