Contactless ATMs are coming! CUCC first reached out to credit unions in April of 2019 to advise that Interac regulations and specifications were updated to include contactless ATM functionality. With high interest from credit unions, the Node Operations Committee (NOC) have approved the development of the solution with Everlink Payment Services for On-Us (within the Cooperative Node environment) and Interac transactions.

This new feature will take advantage of contactless technology options at the ATM, and member appetite for low to no touch transactions. A contactless transaction will have the added benefit of eliminating the chance for a card to be compromised by skimming or shimming.

The initial phase will allow members and cardholders of other financial institutions to complete a transaction with their Flash enabled debit card. Contact with the ATM will be PIN entry. If there is an issue with the contactless transaction, the member/cardholder will have the option to insert their card to complete a traditional chip and PIN transaction.

Mobile device options will be considered when Interac makes that specification available.

What will this cost my credit union?

There are three cost considerations: (1) solution development (this cost is shared among the credit unions), (2) implementation cost, and (3) ATM software and hardware upgrade cost. Older ATM models (i.e. NCR Personas 58xx, Diebold 10xx, Wincor Procash) cannot be upgraded to support contactless transactions.)

Credit unions will need to assess where they are in ATM lifecycle planning to determine if they would upgrade the device or hold and offer contactless functions when the ATM is replaced.

When is it coming? For Coop node credit unions, CUCC is working with Everlink to determine possible timelines for delivery in 2022. Once a specification is available, more information will be shared with credit unions. In the interim, please reach out to us at compliance@cucc-cu.ca and we will provide additional details.

For C2C node credit unions, please reach out via e-mail to switching@central1.com for details.

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