Major banks to roll out ATMs that use smartphones for authentication

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Image Source: Article

Bank of America, Wells Fargo and JPMorgan Chase have announced plans to roll out ATMs that take smartphones as well as ATM cards to authenticate transactions in an effort to reduce the likelihood of skimming and other security attacks as well as make ATM use more convenient for users. 

The new ATMs will support near field communication (NFC), tap to pay technology similar to what is used in Apple Pay and Android Pay, or codes provided through a customer's banking app, according to the Los Angeles Times.

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