What is the correct sequential order of operational steps required to successfully execute an interbank cardless cash withdrawal transaction at an Automated Teller Machine (ATM)?
- 1Initiating a cardless withdrawal request via the customer's mobile banking application or USSD channel.
- 2Generation and transmission of a temporary, secure transaction paycode by the issuing bank to the registered mobile device.
- 3Inputting the received paycode, registered mobile number, and withdrawal amount at the ATM terminal interface.
- 4Routing of the input credentials through the electronic payment switch network to the issuing bank for validation.
- 5Verification of token validity and balance by the issuing bank, followed by account debiting and cash dispensation at the terminal.
Cevap
The correct sequential order begins with initiating the request via mobile/USSD banking, followed by receiving the bank-generated transaction paycode, entering the details at the ATM terminal, routing data through the payment switch for verification, and concluding with account debiting and cash dispensation.
Cardless ATM cash withdrawals rely on a multi-stage electronic banking security workflow. The process initiates when the customer uses mobile banking or USSD to request a transaction token. The issuing bank authenticates the user and generates a time-sensitive paycode. The customer enters this paycode, phone number, and transaction amount at the ATM. The terminal transmits these details through the central electronic payment switch network to the issuing bank. Once the host bank verifies the paycode and fund availability, it debits the account and instructs the ATM dispenser to release the cash.
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Cardless ATM Withdrawal Workflow and Payment Switching
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