At nearly every one of JPMorgan Chase's 16,000 ATMs, customers no longer need a card to take out cash. Chase announced Wednesday that it had rolled out cardless transactions to most of its ATM network, meaning customers no longer need a physical debit card and can instead retrieve cash using a mobile wallet — such as Apple Pay, Google Pay, or Samsung Pay — on their smartphone. At ATMs with a cardless symbol (see below), customers can open their mobile wallet, tap their phone, and then enter their PIN to access their account. Here's Chase's simple visual guide to performing a cardless transaction: Chase began rolling out the feature — which uses the "near-field communication" technology that enables transactions from mobile wallets — in 2016, and Bank of America and Wells Fargo have debuted similar capabilities as well. The largest banks in the US have been investing millions in updating the capabilities and physical appearances of their thousands of ATMs as their digital and mobile customer bases balloon. While cardless transactions are a convenient perk to Chase's more than 30 million active mobile customers, the feature could also result in savings for the bank. It costs banks about $0.20 to replace a lost, stolen, or otherwise corrupted card, according to the consulting firm A.T. Kearney, a sum that can add up when you serve tens of millions of customers, as Chase and its largest competitors do. The more customers can rely on their already omnipresent smartphones, the more likely they are to phase out cards that fatten their wallets and can more easily be lost or compromised.
JPMorgan bank has rolled out cardless withdrawal to almost all its 16,000 ATM machines , enabling customers to withdraw cash using digital wallets such as Apple Pay , Google Pay , or Samsung Pay . Chase initially rolled out the tool in 2016 , swiftly followed by millions of America and online Fargo , but analysts have said the switch to cardless withdrawals could see a drop in revenues for the bank , which requires 20 cents to replace lost , stolen or broken cards .