Ukrainian financial services provider PrivatBank has rolled out its first Android contactless ATM that enables users to withdraw cash using their mobile phone.

Known as Black box, the new technology of contactless ATMs has been developed to minimise the production cost of the devices and bank expenses for the network expansion.

PrivatBank deputy chairman, Alexander Vityaz, said: "We have ruthlessly cut off completely unnecessary top from the usual ATM. Now each customer has his own display, keyboard and a card reader – a smartphone.

"The new generation of ATMs is cheaper than usual in manufacture and maintenance, they are safe in terms of skimming and does the same task – withdraw cash to customers."

Equipped with an NFC-reader, the new ATM features safe protection and the necessary minimum of electronics, and does not have the normal display with buttons.

The new ATMs will be installed in the PrivatBank offices by the end of November, while the bank expects to distribute these ATMs in the first quarter of 2014.

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