Both Bank Of America and Wells Fargo are working on integrating Apple Pay into their ATMs, according to a source familiar with the teams on the projects. Engineers at both companies have been placed on multi-month assignments to build the Apple Pay options.
Wells Fargo’s head of ATMs Jonathan Velline implied Apple Pay would come to its ATMs. He confirmed that “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.”
Velline continued “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. We recognize our customers are going to have lots of different types of wallets based on their device, based on their bank, based on their OS, and we’re going to continue to find the right balance of which wallets we’re going to support. Right now the initial launch is with Android Pay, but that doesn’t limit us from considering other mobile wallets.”
Bank Of America’s Consumer Banking Products press representative Betty Riess confirmed that Bank Of America is “currently developing a new cardless ATM solution. This solution will enable customers to leverage NFC (near field communication) technology on their smart phone in order to authenticate and complete transactions at a Bank of America ATM. We will roll out this capability in late February with associates at select ATMs in Silicon Valley, San Francisco, Charlotte, New York and Boston followed by a broader roll out to customers mid year.” The Charlotte Observer reported news of the cardless ATMs yesterday but didn’t specify that Apple Pay would be involved.
Bank Of America and Wells Fargo competitor Chase recently announced it will be rolling out cardless ATMs this year.
While it’s unclear exactly how Apple Pay at ATMs would work, it would likely allow people to withdraw money without needing their debit card or credit card. That could be especially useful if someone lost or forgot their wallet or card.