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Technology CU Adds P2P to ATM

Silicon Valley CU first in the nation to enable real-time, P2P payments from ATM.

By Robert McGarvey | Updated on November 03, 2011

The $1.5 billion Technology Credit Union in San Jose, Calif., has announced it will be the nation’s first financial institution to enable real-time, person-to-person payments from its ATMs to almost anyone in the world with a mobile phone or e-mail address (more than 60 countries worldwide), using a new payments service from NCR and PayPal.

In a statement, Dan Schatt, general manager of financial innovations for PayPal, said, “We’re thrilled that Technology Credit Union is extending our peer-to-peer payment expertise to the ATM machine. With just a mobile phone number and a few taps on a Tech CU NCR SelfServ ATM, Tech CU customers will be able to make P2P money transfers quickly, easily and securely to anyone’s PayPal account.”

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