Wells Fargo launches cardless transactions at 13,000 ATM locations, making it the first major bank to provide card-free account access across its entire network.
Wells Fargo announced on Monday that it had rolled out cardless transactions at 13,000 ATMs for its 20 million mobile customers. The company’s One-Time Access Code technology allows customers to authenticate at an ATM using an 8-digit token and their debit or ATM card Personal Identification Number (PIN), instead of a physical card.
To access the service, customers are required to first log into their Wells Fargo mobile app, select Card-Free ATM access, and request a one-time use, 8-digit access code. When at the ATM, the customer simply enters the code and their debit or ATM personal identification number, then proceed to the main menu to perform their transaction.
Commenting on the rollout, Brett Pitts, Head of Digital, Virtual Channels, stated,”At Wells Fargo, we believe the future is cardless, and the launch of One-Time Access Code provides our 20 million mobile banking customers another convenient way to manage money.” He continued saying, “This new ATM feature exemplifies Wells Fargo’s commitment to innovation.”
Mobile banking is the fastest growing channel for Wells Fargo, which recently reached 20 million active customers in March. Jonathan Velline, Head of Branch & ATM Banking said,
“Every time a customer walks up to an ATM or into a branch, chances are they’re carrying a phone, and we believe the real power of mobile is the ability to enhance the customer experience at our ATMs and branches.”
“We’re excited to provide our customers with more ways to conveniently and securely make ATM transactions,” he continued.
As Wells Fargo launches cardless transactions through the company’s One-Time Access Code technology, it is also working on delivering customers the ability to initiate cardless ATM transactions with “tap and pay” technology in an NFC-enabled smartphone, later this year.
More here [wellsfargo]