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Over 70,000 Touch ID-based ATMs are on the way

by Jacob Kleinman | July 15, 2016July 15, 2016 6:30 pm PDT

Mobile payments have made a ton of progress in the last few years, but using an ATM is still a pretty dated experience most of the time. Now, FIS and Payment Alliance International are teaming up to launch a fleet of modern ATMs that use Apple’s Touch ID instead.

The FIS Cardless Cash system lets you use your iPhone as a remote for the ATM. You can actually start the withdrawal from anywhere before heading to a nearby ARM and scanning a QR code to get your cash. The system relies on Touch ID for security, and the company didn’t say if Android devices with fingerprint scanners will be supported as well.

Switching to a phone-based system has a few big security advantages. It should eliminate card skimming, which is when criminals modify ATMs with a small device that steals your card info. It will also stop random people from learning you PIN by looking over your shoulder at the ATM.

FIS and Payment Alliance International plan to install over 70,000 new ATMs at restaurants, stores, malls and gas stations around the country. The first machines could arrive as soon as September, according to an earlier Bloomberg report, though FIS hasn’t offered an official timeline.

A few other banks already offer similar systems or will soon. Bank of America ATMs currently work with Apple Pay and Wells Fargo is set to do the same later this year. Chase is also developing on its own cardless withdrawal system that should launch before the end of 2016.

FIS Bloomberg MacRumors FIS

Jacob Kleinman

Jacob Kleinman has been working as a journalist online and in print since he arrived at Wesleyan University in 2007. After graduating, he took a...