Thursday, January 28, 2016

Apple Pay and ATMs

Wells Fargo and Bank of America are planning to add Apple Pay into their ATMs. What this could mean is that you could tap your phone to an ATM to do standard ATM functions. How security would be handled has yet to be disclosed. In addition, Android Pay is already available for Wells Fargo. This would mean there would be a faster rollout for Apple Pay at Wells Fargo ATMs. There are over 12,000 ATMs owned by Wells Fargo in the U.S. and 16,000 owned by Bank of America in the U.S.
"We've been working on the technology that allows us to hook to digital wallets, leveraging NFC on mobile phones to replace the card at the transaction at the ATM. Right now the wallet that we support is Android Pay... But we're also looking at lots of different mobile wallets and evaluating which ones are going to be appropriate for our customers. We'll likely add more mobile wallets throughout the year."
- Jonathan Velline

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