Wells Fargo unveils Android wallet for NFC payments and ATM transactions

Wells Fargo unveils Android wallet for NFC payments and ATM transactions

Wells Fargo has built a new mobile wallet that enables customers to carry out NFC-based in-store payments as well as ATM transactions with their Android handsets.

With Apple, Google and Samsung among the big tech hitters moving into the mobile payments space, Wells has decided to introduce its own in-house built contender later this summer.

Customers will be able to add their Wells Fargo debit and credit cards to the wallet and use them to tap-and-pay at NFC-enabled terminals. The wallet will be incorporated into the bank's existing Android app, meaning customers may also view account balance information before and immediately after a purchase.

Customers will also be able to use the wallet, along with rival offerings, to conduct ATM transactions without using a physical debit or ATM card. More than 40% of Wells Fargo’s ATMs will be NFC-enabled by the end of 2016.

Steve Ellis, head, innovation group, Wells Fargo, says: "We’re looking to reimagine customer interactions with money in and across channels, and designing our own Wells Fargo Wallet allows us to further engage our customers, and innovate for the future."

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