Banks Prepping Smartphone-Enabled ATMs
JPMorgan Chase and other banks are readying next-generation ATMs that will allow people to withdraw funds using their smartphone. Chase said the first series of new ATMs will grant access to cash through the Chase mobile app, and will require a code. The second series of new ATMs will support NFC, allowing smartphone owners to tap their handsets to ATMs in order to initiate transactions. These machines will continue to support ATM cards, but will offer mobile access as an option. Chase also plans to increase the amount of cash customers can withdraw during banking hours, as well as expand the list of services available at ATMs, such as cashing checks and completing mortgage payments. Bank of America and Wells Fargo have similar projects underway, reports TechCrunch. Jonathan Velline, who is in charge of Wells Fargo's ATM business, said, "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," Velline implied that Wells is also working on Apple Pay. Bank of America confirmed it is "currently developing a new cardless ATM solution. This solution will enable customers to leverage NFC technology on their smart phone in order to authenticate and complete transactions at a Bank of America ATM." Bank of America is targeting late February in select markets (New York, San Francisco, Boston) and will expand over time. Chase and Wells Fargo did not provide timelines for their smartphone-enabled ATMs.
Google Launching Android Pay Today
Google said it is making Android Pay, its reborn mobile payment service, available to Android handsets beginning today. The app will be pushed to small batches of users over the next week, according to Google.
Wells Fargo to Bring Smartphone Sign-Ins to 13,000 ATMs
Wells Fargo customers will soon be able to access their accounts at ATMs via their smartphones. Wells Fargo plans to update all 13,000 of its ATMs in the U.S.
Wells Fargo Brings NFC Access to 5,000 ATMs
Wells Fargo today made good on its promise to allow customers to access their accounts at ATMs via tap-and-go NFC transactions. The company says 40% of its 13,000 ATMs, or about 5,000, now support NFC-based interactions.
Bank of America ATMs to Support Android Pay
Bank of America today said it will add Android Pay support to some 5,000 ATMs around the country. Bank of America customers who have added their BofA debit card to the Android Pay app will be able to tap their NFC-equipped phone to compatible ATMs to withdraw cash and perform other account interactions.
Several Banks Add Android Pay to Their Own Apps
Google has partnered with a small number of financial institutions in order to ease the process of signing up for Android Pay. Several banks, including Bank of America, Bank of New Zealand, Discover, mBank, and USAA, now let customers add debit/credit cards directly to Android Pay from within the mobile banking app.