Indian banks offer ATM transfer

Six banks in India have joined forces to enable funds transfers from ATMs through a shared network, says Business Standard.

Previously, banks had only allowed cash withdrawals, cash deposits and balance enquiries, but now a fund-transfer option is available.

The six banks taking part are Punjab National Bank, Indian Bank, Oriental Bank of Commerce, Karur Vysya Bank, IndusInd Bank and UCO Bank, and have an inter-bank network of 2 600 ATMs.

Diebold is set to reveal its new ATM software on 22 and 23 May at its Customer and Conference Expo in Milan, Italy, says ATMmarketplace.com.

The new model revolves around an Agilis platform and integrates open software development tools and services.

This is in response to the increased demand for personalisation, which is causing much competition between financial institutions.

The shape of debit and credit cards is getting more free-form with the advent of contactless card facilities, says SecureIDNews.

This contactless technology allows the cardholder to merely wave the card in front of the reader, or just briefly touch it, to allow the card to be read.

This gives card manufacturers less stipulations as the standard is moving away from the 3.370-inch x 2.125-inch rectangles.