That spells DANGER !! ... imagine losing your phone or getting your phone stolen! I'm sure cyber criminals are able to get cash from ATM without having any trouble. The technology sounds good but it has its dangers.

"New technology to enable people to withdraw money from cash machines using their smartphone has been unveiled. Customers who use the Royal Bank of Scotland (RBS) or NatWest mobile banking app can now request cash, up to £100, via their smartphone.

They are given a six-digit code to enter into an ATM to release the cash. A similar system has been developed by cash machine operator NCR. This requires users to scan a barcode to withdraw the money. The services are the latest developments in a long-predicted move towards the smartphone becoming a digital wallet."

Source: BBC

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