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Moldova’s Moldindconbank has implemented OpenWay’s have WAY4 Cash By Code technology. The new ATM service allows bank customers to use an ATM to transfer funds from their card accounts to another individual who needs no card to receive the transferred cash at another ATM.
A sender specifies the transfer amount, the currency and the recipient’s mobile telephone number. WAY4 automatically generates a code consisting of two parts: the first is printed on the ATM receipt and the second is delivered by SMS message to the transfer recipient. The cardholder shares their part of the code with the recipient.
Before the recipient receives the transfer in cash they must enter both parts of the code, the expected amount, and the transfer currency at any Moldindconbank ATM. After the data has been verified, WAY4 authorises the cash withdrawal. To increase the security the validation period is strictly limited: if the amount is not withdrawn within 24 hours, the money is automatically returned to the sender’s card account.
More than 170 Moldindconbank ATMs across Moldova support cardless cash withdrawals thanks to WAY4 technology.
WAY4 software solutions work for over 130 banks, processors, payment switching, telecom and oil companies in Europe, the Americas, Asia, the Middle East and Africa. We started with HQ in Belgium in 1995 and have grown into a global company with 10 offices around the world.
Our portfolio consists of WAY4 Card and Merchant Management, ATM and POS Switching, Omni-Channel Banking, Prepaid Cards, E-Commerce, Mobile Payments, Digital Wallet, DCC, Fuel Cards and other solutions. WAY4 covers both front- and back-office of processing and omni-channel management.
WAY4 is the choice for companies looking for cost-efficient real-time payment processing, product and service flexibility, speed-to-market, mobile and cloud innovations, scalability and high performance. Our clients rely on OpenWay’s expertise to migrate smoothly from rigid and expensive legacy systems to the WAY4 modern payment platform.
Moldindconbank is one of the largest strategic banks in the Republic of Moldova with a well-developed infrastructure in the Republic, established business relationships and a strong reputation on the international financial market. The bank currently offers the maximum possible range of financial services on the local market through its large network of branches and representative offices all over Moldova. Its strong international reputation is reflected in support of correspondence relations with major world banks and in collaboration to attract long-term resources from international financial institutions such as the International Financial Corporation, World Bank, and other funds for international development.
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