LONDON–The ATM Industry Association said it has certified the world’s first Next Gen ATM product, following what it said is a multi-year global project, involving more than 400 companies in 56 countries, to create a new global API App model for ATMs.
Las Vegas-based KLEAR Technologies has become the first company in the world to attain official Next Gen ATM certification. The certification was awarded for its patented product, SecurPair, which provides for secure authentication of financial transactions by validating device-to-terminal pairing, for example, in cardless ATM transactions, using a QR code, ATMIA said.
ATM vendors can deploy downloadable software to accommodate acquiring of the transactions, while issuers will have a software development kit (SDK) to add to their mobile app to effect the authentication, ATMIA added.
“This is a milestone in the actual reinvention of the ATM to integrate ATMs into the mobile-digital world and to set up a new wave of innovation and investment in our industry through this dynamic ecosystem,” said Mike Lee, CEO of ATMIA, president of the ATM Security Association and chair of the Consortium for Next Gen ATMs.