Roamware, a US-based provider of roaming and mobile financial services, has launched Cardless ATM solution to enable bank customers to withdraw cash from an ATM without the use of a physical cash card.

Roamware said that the Cardless ATM can be used in case of loss or theft of a cash card as well as to send money to friends or family at home or abroad.

Cardless ATM is already in use in Europe. permanent tsb (PTSB) launched the service in Ireland as part of its mobile banking solutions in 2009.

Branded as ‘Emergency Cash’, the service allows customers to send EUR100 to anyone in Ireland just by sending an SMS. Upon receiving the text message, the recipient may go to any PTSB cash point to withdraw the emergency cash, without the need for an ATM card, according to Roamware.

Registered customers can request payment five times per month up to a maximum of EUR500 (EUR100 per withdrawal). The account holder is charged EUR2 per withdrawal.

Avnish Chauhan, executive vice president at Roamware, said: “There is great interest in this product from banks around the world. It is particularly of interest in Asia and Africa where banks plan on using it for mobile money purposes, that is to send money to friends and family. This is a cost saving solution that could potentially complement ‘no frills’ bank account offering to underbanked and unbanked communities in developing economies.”