Date: Friday, January 29th, 2016, 08:48
Category: Apple Pay, Finance, Hardware, Rumor
Apple Pay is coming to assorted Bank of America and Wells Fargo ATMS.
An anonymous source close to the story has stated that Bank of America and Wells Fargo are working on implementing Apple Pay into their ATMs. Both companies are said to have engineers working on the technology that would likely allow Apple Pay to be used at an ATM in place of a physical debit card.
When questioned about the possibility of Apple Pay at ATMs, Wells Fargo head of ATMs Jonathan Velline suggested the information was accurate and that Wells Fargo was working on adding support for mobile wallets that would meet all of its customers needs.
Vellinge offered the following comment:
“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.”
Bank of America was less forthcoming about its plans, but stated that the company is developing a cardless ATM solution that would let customers use NFC technology on their smartphones to authenticate and complete transactions at Bank of America ATMs. The company would not confirm which phones it will work with.
Bank of America stated that it begins to begin rolling out its cardless ATM solution starting in late February at ATMs in Silicon Valley, San Francisco, Charlotte, New York, and Boston before a wider rollout set to take place in mid-2016. Wells Fargo did not provide information as to a deployment plan.
Were this to happen, it would represent a pretty big coup for Apple, Bank of America utilizing more than 16,000 ATMs across the United States along with Wells Fargo’s 12,000+ ATMs.
Stay tuned for additional details as they become available.