NCR Corp. will work with PayPal and S1 Corp. to enable real-time person-to-person payments from their bank’s ATMs to almost anyone with a mobile phone or email address. This service will initially be available in the United States with the ability to send money to people in more than 60 countries around the world.

The process for transferring money person-to-person at NCR SelfServ ATMs is simple. After authenticating themselves at the ATM, consumers will have an option to send money to an individual. To do so, they will enter the recipient’s email address or mobile number, choose an amount to transfer, and the money will be immediately credited to the recipient’s PayPal account. If the receiver does not have a PayPal account, then he or she will need to enroll for a PayPal account in order to receive the funds.

“The ATM channel continues to play a powerful role in delivering new, multichannel financial services to consumers,” says Michael O’Laughlin, senior vice-president, NCR Financial Services. “This solution is just an early foray by NCR to extend person-to-person payments options around the world.”

Initiating a money transfer from an ATM gives a consumer a convenient, 24-hour/7-days-a-week vehicle for instantaneous payment, while maintaining the trust and security associated with ATM networks. In addition, person-to-person payments using the NCR/S1/PayPal ATM solution could be a less expensive transaction than other nonPayPal money transfer options currently available.

The person-to-person payments offering will be available to banks running on the S1 payment platform and using NCR APTRA Edge in the United States. NCR anticipates the service being available beginning in the first quarter of 2012.

“Financial institutions are always looking to strengthen their relationships with their customers through new services as well as generate new streams of revenue,” says Francois van Schoor, divisional president, S1. “This ATM-based person-to-person payments transaction will allow financial institutions to give their customers convenient and trusted access to an important service while maximizing the value of their self-service network.”

http://www.ncr.com/newsroom/resources/person-to-person-payments-via-atms