The Mobile Payment Movement Gets A Boost With Cardless ATMs

As with any part of modern life, technology keeps offering convenience. Now, people can visit ATM’s without a debit card in hand and still manage to withdraw cash. ATMs are now recognizing mobile wallets on customers’ phones. By adding a debit card to a mobile wallet—Apple Pay, Google Pay or Samsung Pay—anyone can use a smartphone as a way to access his or her account.

Banks like Chase and Wells Fargo have recently put these ATMs into action. Chase announced the service would be available nationwide at 15,000 ATMs.[1]

ATMs have become an integral part of everyday life since they were first invented in 1967 as a means to dispense dollar bills. The success and scalability of the ATM were not known until the 1980s. Technology improved but most banks only had ATMs at their physical location. It was not until the late 1990s that ATMs were suddenly on street corners across the world.

Now, ATMs allow people to do most anything needed relating to withdrawals and deposits. It cannot completely replace the need to come inside the bank, but should people need one on the go, all they will now need is a smartphone.

Consumer Demand for Convenience Drives Cardless Capability

Cardless ATMs make banks that go mobile more convenient and modern in the eyes of their customers. Banks think of themselves as technology companies as much as they do financial entities in the digital age. Any time a bank can add a new capability that makes the customer experience smoother or more efficient it will. In the long run, having to produce fewer cards for customers is a cost savings, as well.

Security Concerns of Cardless ATMs

Will banks need to convince their customers that this is a safe and secure interaction? Yes, if the bank wants there to be a larger adoption. This starts with assurances in the messaging and transparency on how secure the process is. Consumers will need to be reminded to keep their digital wallets up-to-date, as that can be a vulnerability.

Consumers long for convenience, as they now can get many things with a few clicks—money is really no different. While the demand for convenience is high, these customers still need reassurances that it is a safe activity. How well banks do at communicating and living up to it will be a factor that decides further adoption.


Follow us on social media for the latest updates in B2B!



telecom project success in healthcare
Telecom Project Success in Healthcare Usually Comes Down to Working with the Right Decision Maker
April 15, 2024

In the rapidly evolving landscape of healthcare technology, telecommunications plays a crucial role. As healthcare providers increasingly rely on digital solutions—from telemedicine to electronic health records—telecom companies are finding new opportunities and challenges in this sector. Successfully implementing telecom projects in healthcare requires a nuanced understanding of the industry’s legacy communications infrastructure, unique demands […]

Read More
visitor management systems
Enhance Security with Faster Adoption of Digital Visitor Management Systems
April 15, 2024

As workplaces evolve into hybrid environments, the urgency to replace traditional paper logbooks with advanced digital visitor management systems has become a critical focus for organizations aiming to bolster security. The reliance on outdated methods poses significant security risks, a concern highlighted by increasing incidents of unauthorized access and data breaches globally. This pressing […]

Read More
access control
Redefining Access Control: Mobile Credentials Integrate Security, Privacy, and IT Seamlessly
April 15, 2024

As businesses increasingly lean on technology to enhance security and operational efficiency, the topic of access control has surged to the forefront. This rise is particularly driven by advancements in mobile credential technology—a shift from traditional physical credentials to digital solutions hosted on personal devices like smartphones. The growing ubiquity of smartphones and heightened […]

Read More
brick-and-mortar store resurgence
Unique In-Store Experiences Are Driving a Brick-And-Mortar Retail Resurgence
April 15, 2024

What’s behind the recent brick-and-mortar store resurgence? Could it be that big box stores recognize the one-of-a-kind shopping experiences that can occur in person? Finding unique ways to capitalize on those in-store experiences may lead to a brighter future for retail. Big box stores are reasserting the importance of their physical presence, continuing to […]

Read More