News Release

FIS and PayPal Set Pace for Cardless Cash in the United States

​Key facts

  • FIS and PayPal collaborate on technology that gives consumers access to their bank accounts with one touch from their smartphones at more than 2,000 ATMs today nationwide.
  • FIS Cardless Cash makes getting cash more secure for consumers by eliminating the risk of debit card skimming at ATMs.
  • The technology leverages the FIS Mobile Banking app and works with existing ATMs without requiring expensive hardware upgrades.

JACKSONVILLE, Fla., Feb. 11, 2016 FIS™ (NYSE: FIS), a global leader in financial services technology, and PayPal (NASDAQ: PYPL) are leading the financial industry with FIS Cardless Cash®, a revolutionary capability that allows consumers with a mobile banking app to withdraw money from virtually any ATM. Launched in January 2015, Cardless Cash was the first mobile ATM solution on the market that avoids the plastic debit card. This technology provides banks with a new revenue opportunity from transactions at their ATMs and allows for enhanced digital marketing in their branded experience by leveraging the white-label technology.

In the past 12 months, the solution has securely processed millions of dollars in withdrawals and hundreds of thousands of transactions across the United States. Multiple banks – including BMO Harris, Wintrust, WSFS, Salem Five and Avidia Bank – have received industry accolades for their first-to-market deployments. Many more banks across the country are deploying Cardless Cash in 2016, including Popular Community Bank and Oriental Bank.

FIS Cardless Cash is enabled through integration with mobile banking, extending the solution’s reach to more than 1,600 mobile clients. The feature is deployed to ATMs through a simple software installation, enabling rapid deployment for financial institutions of any size without the overhead of costly hardware investments. FIS is enabling the more than 80,000 ATMs it operates and expanding to more ATMs connected through its NYCETM network.

FIS and PayPal’s Paydiant team built a mobile customer experience that has achieved extraordinary adoption and uptake by consumers to date. The cardless cash solution was also specifically designed to be embedded in any bank’s mobile banking application. This natural extension of mobile banking capabilities provides a seamless experience for users, and keeps a bank’s brand experience front and center. Customers “order” cash from their smartphones and proceed to the nearest ATM, cutting down transaction time at the ATM to as low as 10 seconds. Customers also receive an electronic receipt of the transaction on their phone, eliminating the hassle of paper receipts.

“Consumers are looking for experiences that match their increasingly mobile lifestyles, with expectations of better security,” said Douglas Brown, SVP and GM of Mobile at FIS. “We are excited to help our banks deliver on their brand promise to customers, and exceed their expectations for speed, simplicity and security.”

Theft of debit card data is top of mind for consumers and ATM skimming has been on the rise. By leveraging FIS Mobile Banking with TouchID, customers securely access their funds and authorize the amount they want. The banking app acts as the remote control for the ATM from the privacy of the customer’s own smartphone. Account information is always current, and it is more secure than a plastic card, as it never expires and can be reissued or replaced instantly.  

"We have a desire at PayPal to give people access to their money and make it easier for them to buy when and where they want, and FIS Cardless Cash delivers on that promise while being champions of security, consumer protection and innovation," said Chris Gardner, chief product officer at Paydiant. "We also have a partner-centric approach to financial services and are thrilled to team with a FinTech leader like FIS to rapidly scale our solutions and reach all consumers."

About FIS
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, consulting, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 55,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit

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For More Information
Kim Snider, 904.438.6278          
Senior Vice President                      
FIS Global Marketing and Communications