An interesting mobile/ ABM innovation could have unintended consequences
This is one of those innovations that kind of makes you wonder if it is a good thing. I can see criminals loving this one.
However, in a neat twist, the Banco Sabadell service explicitly promotes the capability for customers to send the code on to the phone of a second person, effectively making it a person-to-person payments system.
The pros are distant at best. You can interact with the ABM from your phone. You generate a code in advance and use that at the ABM to get your cash. Yes that will reduce line ups assuming you prepare in advance, because the keystrokes at the ABM will be less, therefore time at ABM is less. But as cash becomes less used, certainly here in Canada, ABM line ups are a thing of the past in my observation.
But the person to person thing is very interesting. By sharing the code with another party as Sabadell are doing, that other party can go to any ABM and get their cash.
This can assist phishing /pharming exploits big time with no record of who picks up the cash.