Cardless ATM technology connects digital banking platforms to 23,000 retail locations nationwide
Key Takeaways
- 23,000 ATM network expansion – InComm Payments adopts NCR Atleos’ ReadyCode API to enable cardless cash withdrawals across over 23,000 ATMs in 40+ states, bridging digital and physical financial services
- 56% earnings growth despite revenue miss – Atleos posts $0.64 EPS representing 56% increase and $850 million EBITDA, while expanding ATM-as-a-Service customers by 40% year-over-year
- API-driven fintech integration – ReadyCode allows banking and fintech partners to embed secure cash withdrawal capabilities directly into mobile apps using one-time codes instead of physical cards
Introduction
NCR Atleos expands its cardless cash withdrawal network through a strategic partnership with InComm Payments, bringing secure ATM access to over 23,000 locations nationwide. The integration of Atleos’ ReadyCode API enables InComm’s fintech and banking partners to offer customers cardless cash pickup services at ATMs located primarily within major retail outlets.
This collaboration positions both companies at the forefront of digital-physical financial service convergence. The partnership addresses growing consumer demand for frictionless, mobile-first banking experiences while expanding cash access points beyond traditional banking channels.
Key Developments
InComm Payments integrates Atleos’ ReadyCode API to connect digital payment platforms with physical ATM infrastructure. The system allows consumers to generate secure, one-time codes through trusted mobile applications for cash withdrawals without requiring physical debit cards.
ReadyCode operates across ATMs positioned in retail locations spanning over 70 major U.S. population centers. This deployment strategy leverages high-traffic retail environments to maximize accessibility and convenience for users of digital-first financial services.
The API integration enables InComm’s partners to embed cash withdrawal functionality directly into their mobile applications. Users can initiate transactions digitally and complete them at participating ATM locations using tokenized codes for enhanced security.
Market Impact
Atleos demonstrates strong financial performance despite recent revenue challenges, posting earnings per share of $0.64 representing a 56% increase. The company maintains $850 million in EBITDA with a market capitalization of $2.17 billion.
The ATM-as-a-Service segment shows robust growth with customer numbers increasing 40% year-over-year. Atleos trades at an EV/EBITDA ratio of 5.7x, which analysts consider undervalued relative to the company’s strategic positioning in self-service banking.
Analyst firms including DA Davidson and Wedbush express optimism about the enduring demand for self-service banking solutions. The firms cite expanding ATM-as-a-Service offerings and strategic retail partnerships as key growth drivers for the sector.
Strategic Insights
The partnership capitalizes on the API-driven banking economy, where financial institutions increasingly rely on third-party integrations to enhance service offerings. This trend positions both companies as infrastructure providers for the expanding fintech ecosystem.
Retail location deployment creates a three-way value proposition: consumers gain convenient cash access, retailers benefit from increased foot traffic, and financial service providers expand their physical presence without traditional branch investments. This model aligns with broader industry shifts toward embedded finance and omnichannel banking experiences.
The cardless technology addresses growing security concerns in financial services by replacing static card data with dynamic, single-use codes. This approach reduces fraud risk while enabling financial institutions to offer modern, app-based cash access solutions to their customers.
Expert Opinions and Data
John Houseal, VP of Product at InComm Payments, emphasizes the service’s convenience factor. “Atleos ReadyCode API offering provides an additional modality and channel for our money movement partners and their consumers to access cash in a self-service manner at ATMs located at some of the nation’s most convenient retailers,” Houseal states.
Ben Bregman, Senior Vice President of Global Network Solutions at Atleos, highlights the flexibility benefits of cardless transactions. According to Finextra, Bregman believes this relationship introduces new use cases for digital-first providers while fostering increased ATM utilization and driving additional retail foot traffic.
Industry data supports the strategic timing of this partnership, as consumers increasingly expect seamless integration between digital banking platforms and physical cash access points. The solution addresses regulatory compliance requirements while maintaining user experience standards across thousands of endpoints.
Conclusion
The Atleos-InComm Payments partnership establishes a significant expansion of cardless cash access infrastructure across the United States. The integration demonstrates how traditional ATM networks can evolve to serve digital-first financial service providers and their customers.
This collaboration strengthens both companies’ positions in the converging digital-physical financial services landscape. The partnership creates new revenue streams while addressing consumer demand for secure, convenient, and mobile-integrated cash access solutions at scale.
