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La Caixa introduces contactless cash machines
7 Apr 2011

Contactless smart cards can now be used by customers of Spanish bank La Caixa.

The financial institution has installed automatic teller machines in Barcelona - where it is based - as well as Sitges and on the island of Mallorca.

These mean individuals can simply swipe their debit cards against a reader and enter their PIN code if they want to make a transaction.

Currently, consumers can only withdraw cash using the method but the range of operations is set to be extended, AFP reports.

La Caixa, which is the third largest Spanish financial group, is the first bank in the world to introduce such technology and it is thought it will reduce the amount of time people have to spend at the machines.

"According to technical figures, this is the fastest automatic teller machine cash withdrawal system on the market," a statement said.

Over the next few weeks the technology will be introduce elsewhere in Catalonia and the Balearic Islands.