Wells Fargo launches mobile “tap and pay” functionality at 5,000 ATMs
More than 5,000 ATMs of Wells Fargo (40% of its ATM network) now have near-field communication (NFC) enabled mobile wallet capability – i.e. the bank’s debit card customers can now “tap and pay”.
The bank says it aims to upgrade the rest of the ATM network by 2019.
Customers can already access any Wells Fargo ATM without a physical card by generating a one-time access code through their mobile banking app. Wells Fargo points out that with the launch of the one-time access code in March 2017, it became “the first large bank in the US with an entire fleet of card-free ATMs”. Nearly three million card-free ATM access code transactions have been carried out since then, according to the bank’s data.
They simply hold their smartphone or wearable device near the terminal, input their PIN and the transaction is completed.