Joint Electronic Teller Services Limited (JETCO) yesterday announced the launch of the cross-bank cardless cash withdrawal service in Macau, with an expectation to integrate the cross-bank cardless cash withdrawal feature in the automatic teller machines (ATMs) of all its member banks in Macau by the end of the year.
This service enables local customers of all participating JETCO member banks to withdraw both Hong Kong dollars (HKD) and Macau pataca (MOP) from over 1,100 JETCO ATMs in Macau using their phones.
JETCO CEO Angus Choi said: “The launch of cross-bank cardless cash withdrawal [service] is a key milestone in the introduction of modern financial services to residents of Macau.”
“With this launch, we are proud to play a part in realizing the government’s vision to implement digital banking as part of Macau’s smart city blueprint,” the executive added.
JETCO is planning to launch the second phase of the service in 2022, allowing customers of participating banks in Hong Kong and Macau to conduct cardless cash withdrawals in both cities.
To be able to obtain the cash, the customer needs to pre-set the withdrawal instructions on their mobile banking app and scan the QR code shown on the ATM screen.
The service is supported by seven local member banks.
These banks include Banco Comercial de Macau (BCM), Bank of China (BOC), China Construction Bank, Industrial and Commercial Bank of China (Macau), Luso International Banking, OCBC Wing Hang Bank and Tai Fung Bank.
The designated ATMs will be identifiable by a “Cardless Withdrawal” sticker.
Out of the seven banks, three have rolled out the cardless cash withdrawal feature in their mobile banking apps: BOC, Luso International Banking and Tai Fung Bank.
More member banks will implement this feature in the coming months.