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Pin4TM The First Open Cardless Cash Network Goes Live in Four U.S. Cities
First Open Cardless Cash Network to Complete Nationwide Roll-Out by Fourth Quarter 2016; Brings Real-
Time Delivery of Cash through Cardless ATM Withdrawals for P2P Transfer and Remittance
as well as Promotions, Loyalty and Rewards Fulfillment
New Orleans, LA – February 23, 2016 – Today, Pin4TM, the first open cardless cash network in the U.S.,
announced the launch of the first phase of its nationwide rollout, bringing consumers in New York City,
Miami, Chicago and Los Angeles cardless access to cash at Pin4-enabled ATMs. Pin4 will continue
expansion throughout the year and will have full nationwide access in fourth quarter 2016.
In partnership with Payment Alliance International (PAI), one of the largest independent ATM deployers
in the U.S., Pin4 is pioneering cardless cash withdrawals by powering next-generation solutions that
push the boundaries of cardless cash, offering P2P transfers, promotions and rewards fulfillment and
other cash disbursements, without the need for an ATM card or a bank account. Pin4’s open network
offers a simple and effective API that enables promotions companies, remittance companies, financial
institutions and other businesses to deliver real-time, mobile cardless cash to their customers.
“We are thrilled to have launched the initial phase of our roll-out. By enabling ATMs in the four largest
cities in America, we will not only have a large concentration of ATMs equipped to offer cardless cash
withdrawals, but will also be uniquely positioned to bring new and innovative solutions that will redefine
the ATM marketplace,” said Richard Witkowski, Chief Executive Officer of Pin4. “Cash isn’t going
anywhere and as companies and consumers increasingly look for mobile solutions that reach beyond
simple cash withdrawals, our technology is the very first to equip ATMs to facilitate P2P transfers as well
as rewards and promotion redemptions. With Pin4, ATMs become mobile money terminals.”
Mobile, cardless cash withdrawals are a new and innovative method for offering immediate access to
cash-in-hand without the need of a debit or credit card or bank account. Pin4 offers the highest level of
security through patented dual-pin authentication. To withdraw cash, Pin4 sends a text to the money
recipient’s phone revealing a secure pin, which they enter along with a code the sender has provided. In
minutes, the recipient is able to pick up their cash at a Pin4 – enabled ATM at their convenience. The
recipient can also find the nearest enabled ATM using the Pin4 app on their phone.
“We are pleased to partner with Pin4,” said John J. Leehy III, President and Chief Executive Officer of
Payment Alliance International. “Pin4’s open solution is not tied to a consumer’s bank relationship or
bank account. Instead, transaction issuers can send cardless cash to any consumer who has a mobile
phone. This has the potential to drive millions of new mobile transactions to participating ATMs and
increase foot traffic for our retail clients.”
Source: http://mobilemarketingandtechnology.com/2016/02/23/pin4tm-the-first-open-cardless-cash-network-goes-live-in-four-u-s-cities/
