JETCO rolls out cross-bank cardless withdrawal service in Macau Over 1,100 ATMs from 7 banks ready to accept QR-code cash withdrawals

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  7. JETCO rolls out cross-bank cardless withdrawal service in Macau Over 1,100 ATMs from 7 banks ready to accept QR-code cash withdrawals

JETCO rolls out cross-bank cardless withdrawal service in Macau

Hong Kong/Macau, 6 October 2021

Joint Electronic Teller Services Limited (“JETCO”) today announced the launch of the cross-bank cardless withdrawal service in Macau. This service enables local customers of all participating JETCO member banks to withdraw both Hong Kong dollars (HKD) and Macau Pataca (MOP) from over 1,100 JETCO automatic teller machines (ATMs) in Macau. All the customer needs to do is to pre-set the withdrawal instruction on his/her mobile banking app and then scan the QR code on the ATM screen to get cash.

The service is supported by seven local member banks, namely Banco Comercial De Macau S.A., Bank of China Limited, Macau Branch, China Construction Bank Corporation Macau Branch, Industrial and Commercial Bank of China (Macau) Limited, Luso International Banking Limited, OCBC Wing Hang Bank Limited and Tai Fung Bank Limited. The designated ATMs will be identifiable by a “Cardless Withdrawal” sticker.

Out of the seven banks, three have rolled out the cardless withdrawal feature in their mobile banking apps: Bank of China Limited, Macau Branch, Luso International Banking Limited and Tai Fung Bank Limited. More member banks will follow in the coming months.

JETCO Chief Executive Officer Angus Choi said: “The launch of cross-bank cardless cash withdrawal is a key milestone in the introduction of modern financial services to residents of Macau. It helps strengthen JETCO’s ATM network in Macau as it continues to expand to support the growth of the local economy. With this launch, we are proud to play a part in realising the government’s vision to implement digital banking as part of Macau’s smart city blueprint.”

Cross-bank cardless withdrawal is a simple and convenient way to access cash when customers are out-and-about without their bank cards. Using the mobile banking app is also a safe mode of cash withdrawal as it requires authentication. One more benefit is that the service can help cut down on contact and waiting time as customers are touching fewer keys and spending less time in queues, which is particularly helpful during the current COVID-19 pandemic.

According to Mr. Choi, JETCO is planning to launch the second phase of the service in 2022, that will allow customers of participating banks in Hong Kong and Macau to conduct cardless withdrawal in both cities. 17 banks with around 1,700 ATMs are currently supporting the service in Hong Kong. This cross-border service will facilitate closer integration of the economy and people in the Greater Bay Area, contributing to cohesive regional development.

The service is subject to daily withdrawal limits set by individual banks. JETCO expects to integrate the cross-bank cardless withdrawal feature in the ATMs of all its member banks in Macau by end of the year.

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About Joint Electronic Teller Services Limited

Joint Electronic Teller Services Limited (‘JETCO’) was established in 1982 by five banks: Bank of China (Hong Kong) Limited; The Bank of East Asia, Limited; Chekiang First Bank Limited (currently OCBC Wing Hang Bank Limited); Shanghai Commercial Bank Limited; and Wing Lung Bank Limited (currently CMB Wing Lung Bank Limited). Today, JETCO has more than 30 member banks in Hong Kong and Macau and supports a range of banking services for them across both regions.

JETCO currently operates more than 3,000 ATMs in Hong Kong and Macau, offering convenient, reliable local and cross-border ATM services.

JETCO also provides a range of value-added services, including payment gateway services for e-Commerce and mobile payment solutions, to help member banks deliver innovative

and high-quality services to their customers. In 2019, JETCO launched Hong Kong’s first open API exchange platform. JETCO APIX allows banks and cross-industry partners to connect with each other and collaborate to develop new products and services.

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