- The “cardless” ATM is gaining ground in the US and around the world, with smartphone technology allowing for speedier and more secure transactions.
- US banking giants Wells Fargo, Bank of America and Chase are in the process of deploying the new ATMs, as are a number of regional banks and financial groups around the world.
- Smartphone based systems aim to curb the growing skimming fraud which costed $2 billion in 2015.
- BoA is rolling out this capability in select locations at the end of this month. Chase has similar plans.
- “Headless” ATMs – without a display or keypad; ATMs solely interacts with the phones and do the transactions.