Estonian financial technology company IuteCredit introduced cardless ATMs and will be the first to use them in Moldova — no financial institution in Estonia offers such a service yet. “To receive cash from an ATM, you need an ATM and you need cash. The rest is superfluous. IuteCredit’s new, cardless ATMs have been developed in such a way that a plastic card is no longer needed. Money can be withdrawn with a one-time mobile code,” Tarmo Sild, head of IuteCredit Europe, said.

IuteCredit will introduce its cardless ATM service in Moldova and plans to install such ATMs in Bosnia and Herzegovina, Albania and North Macedonia as well. IuteCredit is expanding its loan disbursement capacity by creating a network of ATMs across the region, said the co-founder and chief commercial officer of the company, Allar Niinepuu.

“In addition to the cardless ATM, we also came out with the MyIute app in Moldova, where customers can apply for a loan quickly, conveniently and contactlessly, and receive a loan application confirmation in just seconds. Both the ATM network and the app allow us to offer new services and increase revenue,” Niinepuu added.