Are Cardless ATMs The Next Big Wave In Technology?

April 1, 2017  |  

Just when we thought technology would take a chill pill, it throws yet another curve ball. According to USA Today, Wells Fargo Bank has introduced a new technology that will allow customers with smartphones (basically everyone except some senior citizens) to withdraw money at every single one of it’s 13,000 ATMs without inserting their debit card.

Those that use the service will be sent a one-time code from their mobile app. Customers will then input the code and enter their ATM pin number in order to access ATM options.

“We believe the future is cardless,” says Brett Pitts, the company’s head of digital for virtual channels.

There are already nearly 20 million Wells Fargo customers who use their app, the company says, so implementing this feature is sure to draw attention and be worth people’s while.

Wells Fargo also has its eyes on introducing more technology-driven banking later on this year with a ““tap and pay” ATM access service that uses “near-field communication” (NFC) technology. In this instance, owners of NFC-equipped smartphones can simply sign on to one of their several mobile wallet apps – Wells Fargo Wallet, Apple Pay, Android Pay or Samsung Pay – and hold the phone near an NFC-enabled ATM terminal before inputting their ATM PIN number.

What are your thoughts? Would you use these services?

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