ICBC Launches Instant Withdrawal Service through QR Code Scanning

ICBC has recently launched cash withdrawal service by scanning a QR code with a mobile phone, with no need for bankcards. Customers only need to open “Scanning” function at ICBC Mobile Banking terminal and scan a QR code on the ATM screen to withdraw money from ICBC ATMs across China. This fast, safe and fashionable service has been well received by customers. Statistics show that hundreds of thousands of customers have enjoyed the service since the mid-September, with total transactions exceeding RMB 130 million.

An official with ICBC said that to meet increasing demands for mobile financial services, ICBC has endeavored to optimize and upgrade its internet banking ICBC Mobile and offer more safe, user-friendly products. Previously ICBC Mobile released cardless withdrawal service through appointment. Contactless, cardless withdrawal service via ApplePay has also been launched in a few cities such as Beijing. With the launch of scanning-based withdrawal service, mobile banking has become a mobile wallet for ICBC’s 210 million customers.

Compared with traditional card-based withdrawal at counter or ATM, the scanning-based withdrawal is more convenient, especially for customers who are in urgent need of cash but carry no bank card around. Specifically, ICBC cardholders may download and install mobile banking ICBC Mobile App and activate the quick payment function ICBC e-Payment; or alternatively, follow the prompt to open ICBC e-Payment function when scanning a QR code and then choose between two methods for scanning-based withdrawal..The first is to open one-click payment function in ICBC Mobile, set a payment password, select scanning-based withdrawal on the initial interface of ATM, scan a QR code with mobile phone, and input amount and password. The second option is to withdraw money with the dynamic verification code of ICBC e-Payment.