How can the ATM Banking be done by RFID.
The traditional ATM was just a cash machine and the reason why that will not survive is that cash is being targeted for extinction with a specific focus from contactless payments. But since the erosion of cash will likely take several years the ATM industry has some time to evolve in a way that allows it to play a role in the brave new payments market.
The ATM has to find a new role in life,That might be depositing checks, accepting payments paying bills offering advertising dispensing tickets, topping up contactless payment devices or even downloading back statements to PDAs but it wont be dispensing cash.
The ATM industry wont likely argue with the inevitable dominance mobile payments, which also rely on contactless technology, will have in the future.
Brand: HBeonLabs, Product assembled by: HBeonLabs
An ATM with a currency dispenser includes a contactless card reader. The contactless card reader can read data from an RFID tag of a customers ATM card. The contactless card reader, such as an RFID tag reader, can be located so as to provide additional space for another transaction component. The contactless card reader can also be used in conjunction with a magnetic stripe card reader. The ATM includes housing for the RFID tag reader that is adapted to prevent interception of radio signals. The ATM is able to prevent dispensing of currency in situations where unauthorized detection of signals is sensed.