It seems that Wells Fargo did the math. The realization was that its clients use more smartphones than their credit cards. Thus, the international banking service company wanted to instill the idea that for someone to withdraw money is as easy as scrolling down social media. As of recently, the bank replaced credit cards with the ubiquitous smartphone.
Wells Fargo Clients Can Now Withdraw Money from 13,000 ATMs with their Smartphones
On Monday, Wells Fargo announced the latest innovation for its portfolio of banking services. From now on, its clients are able to withdraw money using either credit cards or even smartphones. Wells Fargo customers can make the new operation at any of the 13,000 ATMs across 35 countries. As of December 31, 2015, there are 70 million consumers on a global level that will enjoy this new feature.
The head of ATM and branch banking, Jonathan Velline, is really excited about the update. The response so far from customers has been positive.
“This is really about convenience and choice. The response from our customers has been terrific.”
The new implementation employs the services from several mobile applications, such as Samsung Pay, Apple Pay, and Android Pay. There are already 5,000 ATMs upgraded to the latest technology. The rest of them are going to take a little longer to receive the update. On the other hand, the Wells Fargo ATMs will not support Microsoft Wallet.
There Are Two Ways to Use the New Feature
The new implementation will save customers precious time from taking care of their debit card anymore. Once users dock their smartphones on the NFC sticker, they have to do an authentication check through a fingerprint system. Afterward, they will have to type in their PIN number, exactly like it goes for a credit card as well.
The bank didn’t exclude users with older versions of phones either. Those who prefer more traditional gadgets can download the Wells Fargo application. Afterward, they have to sign in and create their mobile account. From then on, every time they need to withdraw money, they can simply request a code on their app. The line will have 8 digits and will have a temporary attribute. The code is used as a digital authentication password for any of the 13,000 Wells Fargo ATMs.
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