Withdrawing cash from an ATM can be a time-consuming and safety concern, with the risk of card skimmers compromising customers’ financial security.
RCBC is pioneering digital banking by introducing a QR code-based ATM cash withdrawal system. This innovative solution tackles the challenges of conventional ATM transactions.
The idea for this innovation emerged in response to the inefficiencies and security risks of traditional ATM withdrawals. These issues have long impacted customer experiences, driving the need for a transformative solution.
RCBC’s QR code system ensures swift and secure transactions, completing withdrawals in under three minutes, enhancing both security and efficiency. This method reduces the risk of skimming and theft by eliminating card exposure. Since implementing QR codes, ATM uptime has improved, transaction times have decreased, and offline incidents have fallen by 40%, extending the life of ATMs. Faster transactions and reduced maintenance provide benefits to cardholders.
RCBC’s recognition at the Asian Technology Excellence Awards 2023 highlights the significant impact of RCBC’s approach to digital banking, setting a new standard for security, convenience, and efficiency in the industry.
Thanks to the advantages of QR withdrawal transactions, an increasing number of RCBC cardholders are opting for this method, reducing the use of physical cards. As a result, issues like unreadable EMV chips and lost cards have decreased. RCBC’s QR code-based ATM cash withdrawal system not only addresses the limitations of traditional ATM transactions but also demonstrates the bank’s commitment to delivering exceptional banking services and a streamlined digital customer experience.