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JETCO launches cross-bank cardless withdrawals in Macao

Swift and simple service will be available at 1,100 ATMs across the city; plans to expand to Hong Kong in 2022.

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Swift and simple service will be available at 1,100 ATMs across the city; plans to expand to Hong Kong in 2022.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 22 Dec 2023, 4:45 am

JETCO (Joint Electronic Teller Services Limited) is launching a cross-bank cardless withdrawal service in Macao.

The service will allow customers of JETCO’s member banks to withdraw cash in Hong Kong dollars and patacas from over 1,100 of their designated ATMs, which display a “Cardless Withdrawal” sticker. 

JETCO
Photo courtesy of JETCO

Customers just need to pre-set the withdrawal instruction on their mobile banking app and scan the QR code shown on a designated ATM screen. The service is subject to daily withdrawal limits set by each bank. 

The seven-member banks that support the service are Banco Comercial de Macao (BCM bank), Bank of China (BOC) Macao Branch, China Construction Bank Corporation (CCB), Industrial and Commercial Bank of China (ICBC), Luso International Banking (LIB), OCBC Wing Hang Bank, and Tai Fung Bank. 

BOC, LIB and Tai Fung have already introduced the feature in their mobile banking apps while other member banks are set to follow.

JETCO staff said that the service is a simple and convenient way to access cash when customers do not have their bank cards with them, noting that using the mobile banking app for cash withdrawals is secure due to required user authentication. Moreover, in the midst of the Covid-19 pandemic, the new service can help minimise contact and waiting times.

Angus Choi Ping-chung, JETCO’s chief executive officer, said: “The launch of cross-bank cardless cash withdrawal is a milestone in the introduction of modern financial services to Macao residents. It helps strengthen JETCO’s ATM network in Macao 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 Macao’s smart city blueprint.”  

Choi said JETCO plans to launch a second phase next year to allow customers of participating banks in Hong Kong and Macao to use this service in both cities.

JETCO was set up by BOC and four other banks in Hong Kong in 1982. It operates a network of over 3,000 ATMs with more than 30 member banks in Hong Kong and Macao, The Macau Post Daily reported. 

 

UPDATED: 22 Dec 2023, 4:45 am

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