Joint Electronic Teller Services Limited (JETCO) announced yesterday the launch of a cross-bank cardless withdrawal service in Macau.
The announcement was made through a press conference held via Zoom in the afternoon.
According to a statement emailed by JETCO to the media after the press conference, the service will allow customers of JETCO’s member banks to withdraw cash in Hong Kong dollars and patacas from over 1,100 of their designated ATMs, which display a “Cardless Withdrawal” sticker. The statement noted that customers only need to pre-set the withdrawal instruction on their mobile banking app and scan the QR code shown on a designated ATM screen, adding that the service is subject to daily withdrawal limits set by each bank.
The seven member banks that support the service are Banco Comercial de Macau (BCMbank), Bank of China (BOC) Macau Branch, China Construction Bank Corporation (CCB), Industrial and Commercial Bank of China (ICBC), Luso International Banking (LIB), OCBC Wing Hang Bank, and Tai Fung Bank. Among them, BOC, LIB and Tai Fung have already introduced the feature in their mobile banking apps while other member banks are set to follow, the statement noted.
The statement pointed out that the service is a simple and convenient way to access cash when customers do not have their bankcards with them, also noting that using the mobile banking app for cash withdrawals is secure due to required user authentication. Moreover, in the midst of the COVID-19 pandemic, the new service can help minimise contact and waiting times.
Angus Choi Ping-chung, JETCO’s chief executive officer, said during the press conference that “the launch of cross-bank cardless cash withdrawal is a key milestone in the introduction of modern financial services to Macau residents. It helps strengthen JETCO’s ATM network in Macau as it continues to expand to support the growth of the local economy. With this launch, we are proud to play a part in realising the government’s vision to implement digital banking as part of Macau’s smart city blueprint.”
Choi also mentioned plans to launch a second phase next year to allow customers of participating banks in Hong Kong and Macau to use this service in both cities.
The statement noted that more information can be found by visiting https://www.jetco.com.hk/en/atm/cardless-withdrawal.
According to the statement, JETCO was set up by BOC and four other banks in Hong Kong in 1982. It operates a network of over 3,000 ATMs in Hong Kong and Macau with more than 30 member banks in the two special administrative regions.
Image courtesy of JETCO
