Wells Fargo has enabled near field communication technology on 40% of its ATMs. This allows customers to use “tap and pay” banking at over 5,000 locations throughout the country. Wells Fargo will continue to expand its mobile wallet compatibility over the next year, reaching all 13,000 ATMs in the United States by 2019.
This spring, Wells Fargo added cardless ATM withdrawals to its system. Users could withdraw money from an ATM without a physical debit or credit card. Doing this required a one-time access code, followed by a PIN.
With NFC, users can bypass the access code and simply hold their phones near the ATM. The machine communicates with the mobile wallet on the phone to securely gather card information.
Wells Fargo customers have already conducted close to three million card free ATM withdrawals via the one-time access code option. That number could increase significantly now that the bank’s 20 million mobile banking customers have a faster method available.
NFC-equipped ATMs work with Samsung Pay, Apple Pay, Android Pay and Wells Fargo Wallet. Phones must have their NFC activated turned on to use the system.