Wells Fargo Transitions to Contactless Credit and Debit Cards for Consumers
April 2, 2019 
Written By Bill Hardekopf Today, Wells Fargo announced they will be launching contactless debit and credit cards for consumers. The bank is currently transitioning its credit cardholders to contactless cards, and will make the move with debit cardholders beginning in the summer.
As of this week, new Wells Fargo credit card applicants will receive the contactless versions of their cards. Existing cardholders will receive the updated model when their cards expire.
In the summer, debit cardholders will be able to “tap” their cards at most of the bank’s 13,000 ATMs nationwide. Over 10,000 Wells Fargo ATMs currently accept digital wallets, which also utilize near field communication (NFC). The remaining ATMs will be enhanced with this technology later this year.
According to a study from Juniper Research, contactless payments are projected to represent 34% of all transactions in the United States by 2022. To put that growth into proper perspective, contactless payments only made up 2% of transactions in 2017.
Visa projects there will be over 100 million Visa contactless cards by the end of this year. This is largely due to Chase’s transition to contactless cards, which began in December 2018. The Wells Fargo contactless cards will also be backed by Visa.
This entry was posted in Credit Card News and tagged credit cards , debit cards , Visa , Wells Fargo , contactless payments , Juniper Research , tap and go , Chase Visa , contactless , Wells Fargo cards , contactless cards , contactless Visa , Wells Fargo Visa
The information contained within this article was accurate as of April 2, 2019. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.
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