Apple Pay may soon expand to support ATM transactions
Mobile payment systems like Apple Pay can be great when you’re traveling light, wanting to keep your pockets card-free while still being able to make purchases. And while there are a growing number of places that let you make mobile payments with such systems, what do you do when there’s no NFC support available – or worse, when a business is cash-only? Some evolving bank partnerships may hold the solution, as Apple reportedly works with Bank Of America and Wells Fargo to bring Apple Pay support to their ATMs.
Wells Fargo has already been working to bring Android Pay support to its ATMs, and while the company isn’t making any promises, comments made by the company suggest that Apple Pay is likely to join it.
Bank of America is similarly working on a cardless ATM system, with initial deployment set to come to select markets as soon as next month. While BoA also won’t confirm that Apple Pay support is on the agenda, both it and Wells Fargo have reportedly tasked employees with making sure their systems are ready to support Apple’s mobile payment platform.
By combining encrypted wireless data transfers with the security afforded by iPhone fingerprint hardware, Apple Pay-enabled ATMs could conceivably offer users enhanced protection against things like skimmer attacks, helping to keep their funds secure.
A cashless society may still be a pipe dream for years to come (assuming it ever proves possible), but cardless ATMs may be just the tech we need to help bridge the gap until we get there.