Wells Fargo to offer Apple Pay-based ATM transactions later in 2017

In launching smartphone-based ATM transactions across the U.S. on Monday, Wells Fargo simultaneously announced plans for NFC support "later this year," including Apple Pay.

People will only have to hold their iPhone up next to an NFC-enabled terminal and enter their PIN, the bank explained. Other compatible platforms will include Android Pay, Samsung Pay, and Wells Fargo Wallet.

The method premiering today requires that people use the Wells Fargo mobile app to obtain a one-time, eight-digit code, in addition to entering their PIN. The option may actually be less convenient than a card, but avoids the risk of skimmers and can be handy if a card is forgotten at home.

At the moment over 5,000 Wells Fargo ATMs — about 40 percent— are already equipped for NFC, the bank said.

One of the company's chief rivals, Bank of America, has been offering Apple Pay at ATMs since June 2016. Support has been limited to "select" terminals however, which might mean Wells Fargo will find itself on relatively equal ground.

Both banks were early supporters of Apple Pay for online and retail payments. Apple is still working on expanding the platform in that regard, though the main issues have become U.S. merchant support and international banks.

11 Comments

Soli 9 Years · 9981 comments

About 7 years ago

. . .

slprescott 10 Years · 759 comments

Nice.

Question/Comment:
To me, this is not really Apple PAY... it is "Touch ID Authentication".

As I understand it, no money will be passing through the iPhone. Instead, the ATM will simply be accepting the user's fingerprint -- via Touch ID -- as a substitute for a physical ATM card. Maybe the answer lies in packaging: Apple has packaged NFC + TouchID in a single Apple Pay framework for developers, even though you can use it for situations that don't really involve a payment?

rob53 13 Years · 3313 comments

slprescott said:

Nice.

Question/Comment:
To me, this is not really Apple PAY... it is "Touch ID Authentication".

As I understand it, no money will be passing through the iPhone. Instead, the ATM will simply be accepting the user's fingerprint -- via Touch ID -- as a substitute for a physical ATM card. Maybe the answer lies in packaging: Apple has packaged NFC + TouchID in a single Apple Pay framework for developers, even though you can use it for situations that don't really involve a payment?

That's what it sounds like to me. (Not ApplePay) Their initial system could just as easily use TouchID instead of entering a stupid PIN, something I can do on the ATM just as easily (or hard). WF will require an app and Apple allows TouchID usage within apps so WF needs to find a programmer who actually knows something about iOS before wasting a lot of time doing it incorrectly. A better way would be for WF to a Passbook-aware-type app that senses when you're near a WF ATM and have it automatically bring up an ATM window. Enter what you want to do, then use TouchID to authenticate and you're done--at least until all the advertisements are finished.

dick applebaum 17 Years · 12525 comments

mac_128 12 Years · 3452 comments

Couldn't care less. I closed my Wells Fargo account immediately after they started illegally opening customer accounts. Can't do business with a dishonest bank engaged in fraudulent activity.