Cardless payment platforms such as Samsung Pay, Android Pay, and Apple Pay are more popular now because they practically turn your phone into a wallet and you don't need to move around with a credit or debit card. Wells Fargo, American international banking and financial services holding company headquartered in San Francisco, California, announced today that over 5,000 of its machines across the USA now supports contactless payment.
A customer can initiate an ATM transaction by signing into leading mobile wallet features, such as Wells Fargo Wallet for Android, Apple Pay, Android Pay or Samsung Pay, found on mobile phones. They simply hold their phone or wearable device with mobile payment functionality near an NFC-enabled ATM terminal. Wells Fargo ATMs enabled for this feature will display a “contactless symbol” decal on the front of the ATM.
Back in March, the company promised cardless ATM withdrawals using Android Pay, Samsung Pay, and Apple Payback and it seems to have delivered, however, authentication will be via your ATM pin and not fingerprint. A source close to the company said that users will need to enter their Wells Fargo Debit or EasyPay Card Personal Identification Number (PIN) and execute their transaction.
Since Wells Fargo commenced cardless ATM usage back in March, it has reportedly executed almost 3M transactions
Jonathan Velline, head of Strategy and Administration for Community Bank said
“This spring’s launch of one-time access code technology at all Wells Fargo ATMs has resulted in nearly three million card-free ATM access code transactions. Card-free ATM use will take another leap as we introduce NFC functionality,”...“The NFC functionality is a second form of card-free access and is an extension of our promise to reach our customers wherever they are and provide value using the mobile option with which they are so comfortable.”
Wells Fargo still has about 8,000 ATMs which do not support contactless payment platform and the company has said that these ATMs will be upgraded within two years. The machines that support this payment technology has the contactless logo for identification.