Diebold Granted 5 Patents for Mobile Banking
August 29, 2007 11:44 AM | Interesting | Comments (0)
| Diebold has been granted five U.S. patents covering a variety of applications that enable mobile devices to interact directly with bank ATMs. These technologies extend beyond current mobile banking practices that permit using mobile phones to conduct online banking transactions such as transferring funds or checking account balances. The new technologies covered by the patents will allow consumers to use their mobile devices to locate and get directions to the nearest ATM, "order" cash withdrawals remotely, generate electronic checks to pay for goods or services, transmit wireless payments and conduct other transactions more securely and conveniently than they do presently. Approximately 8 billion ATM transactions are performed annually in the United States, according to the Dove 2006 ATM Deployer Study. Those transactions add up to $600 billion in cash dispensed each year. |  |
While no provider is offering systems with the features covered by these patents yet, Diebold is in discussions with technology partners that could bring these applications closer to reality.
Since 1999 -- long before popular acceptance of the notion of using mobile devices to conduct consumer banking -- Diebold has been working to develop innovative ways for consumers to use mobile devices for direct interaction with ATMs, their key touch point with their financial institutions. With this latest round of patents, Diebold has laid the groundwork for an emerging technology -- marrying mobile communications and the banking self-service channel -- that has the potential to change the way banks and wireless service providers serve their customers' needs.
Diebold's recently issued patents cover the following:
Patent 7,040,533 -- Enables mobile devices to interact directly with an ATM and a bank system to allow a customer to "order" cash withdrawals from a mobile device. The technology offers protection against card-skimming or personal identification number (PIN) surfing at ATMs, since a customer's mobile phone becomes his or her input device to the ATM. This offers a greater sense of security to consumers who worry about entering their personal account information where others can watch or an unauthorized camera can record a PIN entry.
Patent 7,207,477 - Enables mobile devices to be used in a checkout or bank environment to make payments using secure electronic checks.
Patent 7,201,313 - Enables a bank network to receive wireless communications from a mobile device, including a customer's bank account number and account cash value. This patent defines how a wireless device can "communicate" with a bank network to dispense cash and assess a customer's account for the value of the cash dispensed.
Patent 7,150,393 - Enables bank ATMs to communicate with mobile devices through a cellular network or other wireless methods. This application could also allow two or more customers to simultaneously conduct transactions with an ATM.
Patent 7,025,256 - Enables a user of a wireless device to interact with an ATM by using the wireless device's display and keypad instead of the display and keypad on the ATM.
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