Now Android Pay Supports To Bank Of America Cardless ATM Technology

Now Android Pay Supports To Bank Of America Cardless ATM Technology

Android Pay service finally announced in UK. At an I/O session, Google declared new features for its contactless payment solution and the capacity to use a phone to withdraw cash  from Bank of America ATMs.

Android Pay and APPLE PAY haven’t exactly conquered the world of payments just yet. A smartphone can replace debit and credit cards in millions of checkout paths, but that doesn’t mean people will reach for theirs. It’s useful, but maybe not convenient enough to break an old habit right away. But now, ATMs are starting to learn the same tricks, giving the user one more very good reason to dump their wallet for good. 

Without declaring Apple Pay by name, Wells Fargo’s head of ATMs Jonathan Velline told TechCrunch "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." Velline did confirm that Android Pay will be supported, however. But when TechCrunch pressed harder for confirmation as to whether Apple Pay would gain ATM support Velline said, "I think that’s a good assessment."

Android Pay Example

Cardless ATMs are nothing new. Spain has presented them since 2011, and Canadian bank BMO Harris applied them on a relatively small scale in the United States last March. Recently, however, the technology found its most prominent stateside supporter yet in JPMorgan Chase, which will offer “thousands” of cash machines that will need only our smartphone to withdraw from our account. 

The Chase machines will still work with debit cards if we so choose. The important thing, though, is that smartphone-only transactions will now be baked into the ATM infrastructure on a big scale. As the procedures around those transactions become more accessible and more streamlined, a user's increasingly being able to make physical cards a relic.

“We can expect more merging of mobile and ATMs as banks are transforming themselves by deploying and relying ever more on self-service technology to interact with their customers,” says Bernardo Batiz-Lazo, professor of business history at Bangor University and author of Cash Box: The Invention and Globalization of the ATM. “So you can expect more retail bank closures and more and innovative ways to interact with your bank.”

That convergence has already taken a few different forms, with one commonality: It saves time. And in a few years, it could save even more.

Being able to use Apple Pay at ATMs would be a huge benefit for iPhone users who use the company’s digital wallet service. Now the service can be used at hundreds of thousands of locations in the U.K and U.S. However, having your wallet with you is still an essential for those times you need to get cash out. Being able to withdraw cash from ATMs using the iPhone means the physical wallet could be something user no longer have to carry.

Neither Bank of America nor Wells Fargo would say when Apple Pay ATM support is coming, however, a Bank of America spokesperson said cardless ATMs will start to appear in Silicon Valley, Charlotte, San Francisco, New York, and Boston in late February and roll out to the rest of the country starting mid-year. 

BMO, which happening with 750 Mobile Cash ATMs last March and currently offers the service in all 900 bank-owned cash machines, depend on a QR code system. Customers preload the amount they want to withdraw in the bank’s app, hit Mobile Cash on the ATM display, then hold their smartphone camera up to read a unique QR code produced by the display.

“A couple years before launch, we started to see a need to solve for authentication at the ATM. ATM card technology is 35 years old. It hasn’t evolved much. It’s at risk for fraud,” says Peacock. “We wanted those transactions to take 15 seconds, which doesn’t seem like huge savings, but it could be about a minute.”

Important for BMO is that the procedure also required only a software update to existing ATMs, rather than a more time-consuming and expensive hardware upgrade.

“This doesn’t replace the debit card. It’s just giving customers a more convenient choice in case they don’t have their debit card on them,” says Chase spokesman Michael Fusco. “Our customer behavior is driving this as well. More of our customers are using online, mobile, and ATMs. We have 40 million digital users, and monthly ATM transactions are now outpacing teller transactions in the branches.”