These days it seems like new transaction options are constantly being added to ATMs. One of the most exciting and useful new services is Mastercard’s Cash Pick-Up service, which allows you to send cash to a recipient who can then pick it up at a participating ATM. Hyosung America ATMs, updated with the latest Mastercard Cash Pick-Up software, make transferring cash to another person easier than ever before.
As an operator, adding an ATM cash pick-up service offers a chance to provide your customers with more transaction options, and thus a chance for you to earn more money. Here’s a breakdown of how Mastercard Cash Pick-Up transactions work.
Create a Cash Pick-Up Order
First off, a sender creates a cash pick-up order. The easiest way to do this is to download the Mastercard Cash Pick-Up app. The sender enters their information and information about the recipient. Once an account is set up, there’s no need to re-enter sender information every time the app is used. This makes additional transactions exceptionally quick and easy.
Fund a Virtual Card
Next, the sender funds a virtual card by adding money from their bank account. This virtual account is what the recipient will access when they visit a participating ATM. Funds are transferred securely and quickly between the sender’s bank and Mastercard.
Send to a Recipient
Next, a PIN and the cash amount are sent to the recipient’s mobile phone. At this point, cash is ready to be withdrawn and can be accessed whenever it’s convenient for the recipient to visit an ATM.
Withdraw Cash at a Participating ATM
Using their phone number and PIN, the recipient can withdraw cash from an ATM. This allows underserved demographics, namely teenagers and people who don’t have bank accounts, access to cash. Whether they’re sending cash to a relative or a friend in need, making cash available to a child while they’re on a school trip, or reimbursing an employee for business-related spending, customers will find that Mastercard Cash Pick-Up is easy to use and highly efficient.
This helpful service is also popular with businesses for giving rebates to customers and can be used to donate money to people in disaster areas.
Implementation Is Simple
Implementing Mastercard Cash Pick-Up is incredibly simple. It’s merely a software upgrade and requires no hardware at all. Hyosung America highly recommends adding this functionality to your network as part of broader retail ATM software solutions that address the changing banking landscape.
With fast and affordable implementation and the benefit of dramatically increased functionality, cardless pick-up options are becoming more and more popular with ATM operators and FIs across the globe. By giving your customers more options, you’ll increase the amount of transactions your network performs, and increase your profits as well.
Don’t lose out on a transaction because your machines don’t support Mastercard Cash Pick-Up. Make sure that your fleet is versatile and agile, and ready to meet your customers’ needs. Contact Hyosung America for more information today.
FAQs
How it works
- Step 1: Disburser. Creates a cash pick-up order.
- Step 2: Issuing Bank. Funds a virtual card.
- Step 3: Recipient. Receives the cash pick-up order.
- Step 4: Recipient. Gets their cash at the ATM.
How does it work? Cash pickup is a delivery option available to customers in the UK, Europe, Canada, New Zealand and the USA. By cutting out bank transfers, we're able to get your money to its destination a lot faster. It also means the person picking up the transfer can receive it in a physical form.
How do I get cash from my Mastercard? ›
How to use a credit card at an ATM to withdraw money
- Insert your credit card into an ATM.
- Enter your credit card PIN.
- Select the “cash withdrawal” or “cash advance” option.
- Select the “credit” option, if necessary (you may be asked to choose between checking, debit or credit)
- Enter the amount of cash you'd like to withdraw.
Your beneficiaries may claim at any of our cash Pick-up partners: Metrobank, PSBank, PeraHub, LBC, Palawan Pawnshop, RD Pawnshop, M Lhuillier, Robinsons Department Store, Cebuana Lhuillier, Villarica and Tambunting.
What is Mastercard cash pickup? ›
Mastercard Cash Pick-Up®
More secure access to cash for anyone, anytime, at any enabled ATM, without the use of a card. Great for cash transfers, emergencies, disaster and aid relief, and even for collecting immediate rebates.
How does a Mastercard cash advance work? ›
To get a Mastercard cash advance, visit any ATM that displays the Mastercard logo, then insert the credit card and enter its PIN. Next, choose the cash advance option from the ATM's menu, input the amount of the cash advance, and collect the cash and your card.
How do I send money through cash pick up? ›
Select Cash Pickup as the delivery method, then add your recipient's information. Pay with either a debit or credit card and wait for the cash pickup number. Relay this number to your recipient. The cash will be available for pickup within a few minutes.
What is cash pickup option? ›
What is a cash pickup transfer? Cash pickup transfer is a payment that your recipient can collect as physical cash from a supported location within WorldRemit's local partner network.
What is the difference between cash pick up and bank deposit? ›
What is the difference between bank deposit and cash pickup? Cash pickup involves money being retrieved by the recipient from a physical location while bank deposit is the electronic transfer of money to the recipient's bank account.
What is the code number on a Mastercard? ›
The CSC for Visa, Mastercard, and Discover credit cards is a three-digit number on the back of the card, to the right of the signature box. The CSC for American Express is a four-digit code on the front of the card above the account number.
You cannot directly transfer money from a credit card to Cash App. However, there are a few workarounds: Use a peer-to-peer payment app that supports credit cards. Some popular peer-to-peer payment apps, such as PayPal and Venmo, allow you to send money from a credit card to another user.
Can I use Mastercard to receive money? ›
Mastercard Send allows people and organizations to send and receive money how, where and when they choose — all with the best-in-class security you expect from Mastercard.
Can I pick up cash at Walmart? ›
To pick up your cash at Walmart, you will need to bring a government-issued photo ID matching the name on your account and the barcode generated with the Green Dot app.
Can you send money to Mastercard? ›
Sending money to a debit Mastercard® is fast and easy
Track your money transfer online and know when the money gets there. Make it easier. Save your receiver's details and make repeat money transfers to a debit Mastercard®.
How do you use a prepaid Mastercard in-store? ›
To use the card at a point-of-sale terminal, simply swipe the magstripe on the back of the card and sign the receipt. Each time the prepaid card is used, the purchase amount, including taxes and any other charges, is deducted from the available balance until that balance reaches zero.
How do I use my Mastercard cash passport? ›
Using Your Cash Passport Travel Card
- If you purchased your card online, you need to activate it before it will work. ...
- Check you have enough money on the card for the purchase you wish to make.
- Check you are using the correct PIN. ...
- Check that the merchant you are purchasing from accepts Mastercard® Prepaid.
