Wells Fargo Wallet to Launch for Wells Fargo Customers
May 24 2016 - 8:00AM
Business Wire
- New mobile wallet is incorporated into
existing Wells Fargo Mobile app for Android, giving customers
ability to make NFC payments directly from the Wells Fargo mobile
app
- Wells Fargo Wallet will function at
NFC-enabled payment terminals and Wells Fargo ATMs
Today Wells Fargo Bank, N.A. (NYSE: WFC) announces Wells Fargo
Wallet, the new mobile wallet and easy way to pay. Launching later
this summer, Wells Fargo Wallet is integrated into the existing
Wells Fargo mobile app experience for Android users, making for a
comprehensive, all-inclusive mobile banking and payment
experience.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20160524005179/en/
Wells Fargo Wallet for Android users
gives customers the unique ability to make secure NFC payments
directly from the Wells Fargo mobile app.
Wells Fargo Wallet quickly and conveniently adds eligible Wells
Fargo Debit and Credit Cards so that customers may easily make
purchases by tapping an Android phone at millions of NFC-enabled
payment terminals worldwide. For more seamless money management,
customers may also view account balance information within the app
before and immediately after a purchase.
“Today we’re pleased to announce Wells Fargo Wallet for Android
users, giving customers the unique ability to make secure NFC
payments directly from the Wells Fargo mobile app,” said Jim Smith,
head of Virtual Channels for Wells Fargo. “We know mobile is key to
the future of payments, and we expect Wells Fargo Wallet to provide
us a richer understanding of the quickly evolving landscape.”
When a customer makes a payment with Wells Fargo Wallet, all
transactions are monitored with Wells Fargo risk and fraud
detection systems. Purchases also are protected by Zero Liability,
which means customers are not responsible for promptly reported
unauthorized transactions. Customers should refer to their
applicable Wells Fargo account agreement and card terms and
conditions for information on liability for unauthorized
transactions.
Wells Fargo Wallet was built in-house and designed to provide a
seamless banking experience for customers. Across the globe, Wells
Fargo team members have been testing the wallet, and providing
valuable feedback ahead of the product launch later this summer. In
addition to the ability to make payments at NFC-enabled payment
terminals, customers will also be able to use Wells Fargo Wallet,
along with other leading mobile wallet providers, to conduct ATM
transactions without using a physical debit or ATM card. More than
40 percent of Wells Fargo’s ATMs will be NFC-enabled by the end of
2016.
“From our stagecoach days, innovation has always been part of
Wells Fargo’s DNA. 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,” said Steve Ellis, head of Wells Fargo’s
Innovation Group. “Continuous innovation enables Wells Fargo to
save customers time and money, reduce fraud, and drive loyalty.
With mobile ubiquitous in today’s world, innovation around mobile
will continue to be a key area of focus.”
Recent survey data from the Federal Reserve reported that almost
28 percent of smartphone owners reported having made a mobile
payment in the last 12 months and 53 percent of all smartphone
owners with a bank account have used mobile banking. These
statistics are reflected in the growth of Wells Fargo’s mobile
banking channel, the company’s fastest growing channel, with more
than 17 million mobile banking customers.
For more information, visit www.wellsfargo.com.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.8 trillion
in assets. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, insurance, investments, mortgage, and
consumer and commercial finance through 8,800 locations, 13,000
ATMs, the internet (wellsfargo.com) and mobile banking, and has
offices in 36 countries to support customers who conduct business
in the global economy. With approximately 269,000 team members,
Wells Fargo serves one in three households in the United States.
Wells Fargo & Company was ranked No. 30 on Fortune’s 2015
rankings of America’s largest corporations. Wells Fargo’s vision is
to satisfy our customers’ financial needs and help them succeed
financially. Wells Fargo perspectives are also available at
Wells Fargo Blogs and Wells Fargo Stories.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160524005179/en/
Wells Fargo & CompanyJennifer Langan, 213-253-3452
(Media)jennifer.l.langan@wellsfargo.comHilary O’Byrne, 415-977-9671
(Media)hilary.obyrne@wellsfargo.com
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Wells Fargo (NYSE:WFC)
Historical Stock Chart
From Sep 2023 to Sep 2024