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JPMorgan rolling out card-free ATMs

Jan. 26, 2016 2:41 PM ETJPMorgan Chase & Co. (JPM) StockJPMBy: Stephen Alpher, SA News Editor5 Comments
  • Continuing to look to technology to help cut costs, JPMorgan (JPM +2.2%) this year will unveil new ATMs allowing customers to pull cash or complete other transactions using the Chase mobile app, rather than a debit card.
  • At first, customers will need to enter a code found through the app, but eventually - as with Apple Pay or Samsung Pay - just having an enabled smartphone close by will do the trick.
  • The bank already has more ATMs than tellers, and what tellers that are left are more likely to be on the floor assisting ATM customers, rather than behind the counter.

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