Russian Bank Sberbank launches blockchain based touchless ATMs

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According to local news agency Izvestia The Russian state-owned bank Sberbank is introducing non-contact ATMs in Russia using blockchain technology. The aim is to improve security and reduce the spread of coronavirus. A pandemic has paved the way for contactless technology. From touchless travel, payments, touchless toilets to touchless ATMs introduced in the Russian market. Touchless solutions are becoming increasingly popular and are setting new prospects.

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Touchless ATMs for a touchless future

In order to meet the market demand for sensor technology, Sberbank decided to abandon the need to physically use the ATMs with a debit or credit card. So far, many countries already allow the normal use of ATMs, as the number of coronavirus infections is decreasing. However, Russia will see continuous growth and is therefore trying to mitigate it by installing contactless ATMs.

Sberbank bought 5000 touchless ATMs for $108.5 million and each machine costs around $22,000. These ATMs are adapted for applications such as Apple Pay, Google Pay, Samsung Pay, Huawei Pay and the Russian product Mir Pay, which is very attractive.

Each of these modern ATMs can hold 14,500 notes, and users can withdraw their money without contact, only using their smartphone. In this way, the risk of viral infection is reduced.

Thanks to the blockchain technology, the ATMs will offer the highest level of security and performance.

No dependence on bank cards

Thanks to its project, Sderbank, in addition to its dependence on bank cards, intends to attract more demanding users by reducing operational costs.

In the future, the bank plans to integrate additional features such as applying for loans, checking the stock market and even shopping. All this with just a smartphone.

Despite the use of blockchain technology, Sberbank has indicated that this has nothing to do with the crypto.

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