OCBC Bank adopt QR codes for cash withdrawals

OCBC Bank in Singapore is now offering customers QR codes as an alternative to using physical cards and PIN codes. 

Customers approach the ATM, select the option to use the PayAnyone app, scan the QR code on the ATM screen and select the amount of cash to withdraw.  OCBC estimates this new process will reduce the amount of time spent at the ATM  from an average of 80 seconds to 45 seconds. OCBC currently sees around 3 million ATM transactions per month. 

By moving all of the security from a physical card (which can be skimmed) and moving to biometric identification, OCBC can offer it’s customers a more secure and cost-effective alternative when accessing ATMs. 

This new feature is available at 655 OCBC ATMs across Singapore.  

Link to press release is here: