Wells Fargo ATMs get support for Android Pay, Apple Pay and others

Wells Fargo today announced that its debit card customers can now use its more than 5,000 ATMs across the country without actually having their card on them. They then hold their phone or wearable device near an NFC-enabled ATM terminal and enter their PIN. This worked in conjunction with the Wells Fargo Mobile Banking app, making Wells Fargo the first large US bank to have a fleet of card-free ATMs, the company notes today. Then, customers will enter their PIN code as usual and complete their transaction.

Because mobile payments is already understood by many of Wells Fargo's over 20 million mobile banking and mobile wallet customers, few will need much education as to how to take advantage of the NFC-enabled ATMs.

Wells Fargo's ATMs are getting an upgrade. Wells Fargo is rolling out some new ATMs today that will be able to handle transactions without a physical card.

American Eagle Outfitters, Inc. (AEO) Price And Consensus
The Deroy & Devereaux Private Investment Counsel Inc holds 12,475 shares with $150,000 value, down from 750,108 last quarter. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.

You activate the feature by using the Apple Wallet app and the transactions are possible thanks to near-field communications (NFC) chips installed in those ATMs. This is also true of mobile payments with the availability of Apple Pay, Samsung Pay, Android Pay, and more.

The move comes ahead of forecasts predicting that mobile wallets will become increasingly popular in coming years while traditional debit and credit cards will fall out of style. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. This involves downloading the mobile app, which is used to generate a one-time code at the ATM.

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