Over 70,000 ATM locations in the US, covering some of the nation's largest retailers, gas stations and convenience stores, are being updated to enable consumers to withdraw cash using their mobile devices.

PayPal-owned Paydiant and FIS Cardless Cash have been working together for some time to bring new payment methods to market, they have now teamed up with ATM provider Payment Alliance International to bring their no-card-at-ATM solution to millions of North Americans.

The switch has taken place without the need for an upgrade in ATM machine hardware, while eligible mobile banking users of participating banks will now be able to access their cash at these ATMs both on iOS and Android mobile devices at any time.

Earlier this year, Paydiant announced that its technology was available at around 2,000 ATMs in the US.

Chris Gardner, chief product officer at Paydiant, said: "As we discussed in February, our collaboration with FIS is due in large part to our shared vision of ensuring consumers and businesses can quickly, simply and securely transact no matter where they are.

"Over the past year, we have realised the potential of providing cardless cash access, and strong relationships with banks, debit networks and financial service providers, having already processed millions of dollars in withdrawals and hundreds of thousands of transactions across the US."

Thanks to the latest agreement the New York Currency Exchange has become the first national payment network to support mobile phone-to-ATM transactions. The cardless cash concept is currently used by more than 30 banks in the US, including BMO Harris, Wintrust, WSFS, Salem Five, Avidia Bank and PAI, but it is expanding to a shared network of ATMs that all banks can access.

PayPal completed the $280 million acquisition of Paydiant in April 2015.

At the time, Bill Ready, SVP and head of merchant & next gen commerce at PayPal, said the deal would advance the organisation's ability to offer merchants ways to create their own branded wallets.

"We believe this will accelerate mobile-in-store payments for these merchants and drive consumer engagement through loyalty, offers and the prioritisation of preferred payment types, such as store branded credit cards and gift cards," he explained.

"Similar to PayPal, Paydiant's technology agnostic approach means that merchants can use the mobile payment technology that best suits their business, whether that is QR code or NFC, and they can do so across major operating systems and platforms."

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Paydiant

FIS

Payment Alliance International

PayPal