Wells Fargo Wallet, because you don’t want Apple Pay or Android Pay working with other banks

It’s true that we’re not being fair to one of the largest banks in the US with that headline. After all, you can put your Wells Fargo cards onto both Android Pay and Apple Pay. But for a bank to launch its own mobile payments app that boasts exclusive compatibility with its own ATMs doesn’t seem fair to us.

Wells Fargo Wallet will be integrated into the Wells Fargo Android app and can tap into NFC terminals and Wells Fargo ATMs. The bank stated that more than 40 percent of its ATMs will be NFC-enabled by the end of the year. Wallet purchases will also be Zero Liability-protected in case something looks wrong.

It’s a pretty forward-looking move for an all-enclosed banking app and may have been to combat against Android Pay’s deal with Bank of America to have the system work on that bank’s ATMs.

Of course, Wells Fargo can just as well come to the table with Google and Apple and we may hear something else soon involving their mobile payments systems. The feature’s out “later this summer”.

Source: Wells Fargo
Via: Digital Trends

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About The Author
Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.