The present disclosure relates to a method and a system for performing Automated Teller Machine (ATM) transactions using a user payment instrument without a physical bank-issued card. According to the present disclosure, a user requests an ATM to perform a user transaction request such as withdrawal of funds from the user account or depositing funds to the user account. Based on the user transaction request, the ATM generates a Quick Response (QR) code with payment information. Thereafter, a user payment instrument may be used to scan the generated QR code, which opens an authentication application, after the user payment instrument is authenticated. Further, the user account details are loaded onto the user payment instrument to perform the financial transaction on the ATM without the physical bank-issued cards.
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RAGHAVENDRAN, VARADHARAJAN; KUDWA, ABHAY; and GHOSH, DEB, "IOT DEVICES AS PAYMENT INSTRUMENT FOR ATM TRANSACTIONS", Technical Disclosure Commons, (June 14, 2023)