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Spirethoughts

Spire's six most recent Spirethoughts.

Productivity & Efficiency – the new WFH buzzwords
Will Smart Health & Safety products ride Covid-19’s coattails?
Will Smart Health & Safety products ride Covid-19’s coattails?
Awareness and adoption of Sustainable Smart Technology
Technology security and privacy concerns have become critical to consumers
Technology security and privacy concerns have become critical to consu...
Airlines caught in Covid turbulence
M&A during Covid-19

Cardless withdrawals from ATM machines – Asia leading the way

Withdrawing money from automated teller machines (ATMs) using a mobile device is the latest milestone in the trend of more buying and usage behavior migrating to mobile devices.

The Bank of India recently became the first state-run lender to allow withdrawal of funds from its ATMs across India, without needing to own a bank account. The Instant Money Transfer (IMT) service further allows any customer of the bank to transfer money using the receiver’s mobile number and a passcode sent via a text message.

Singapore’s United Overseas Bank (UOB) also offers the transfer of funds via any mobile number. The money received can be withdrawn from any UOB ATM, credited into a UOB account or used to top up a cash card.


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Nidhi Singh
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E-mail: nidhi.singh@spireresearch.com

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