Brings most popular payment features front-and-center on the industry’s #1 mobile app 1 , making payments on-the-go even easier for nearly 22 million mobile banking customers
SAN FRANCISCO--(BUSINESS WIRE)--Today Wells
Fargo & Company (NYSE: WFC) announced Pay
with Wells Fargo, which will bring to the app’s home screen an
option for customers to conveniently select their most commonly used
payment features like Zelle
®2
, mobile
wallets, Card-Free
ATM Access Code and transfers, even before signing into the app. Pay
with Wells Fargo is the first phase of a longer-term reinvention of
Wells Fargo’s mobile banking experience, aimed at meeting all of our
customers’ financial needs in a simple, easy-to-use, and customer-driven
mobile experience.
From the new screen, customers can more simply select the feature they
want to use and authenticate to immediately send payments, transfer
money, or make a purchase with a digital wallet. In a future
enhancement, Wells Fargo plans to launch a feature where customers also
will be able to donate money to their favorite charities and non-profits
directly from the mobile experience. Pay with Wells Fargo will be
piloted with Wells Fargo team members next month and piloted with
customers later this year.
Today at Wells Fargo’s Investor Day, Avid Modjtabai, head of Payments,
Virtual Solutions and Innovation for Wells Fargo, will unveil onstage
the new payments interface and speak to the company’s efforts to develop
a new consumer strategy that is transforming the way the bank approaches
customer experience. Modjtabai will also announce that
Control
Tower
SM
, a digital experience aimed at providing
customers a more comprehensive view of their digital footprint, will
launch in a customer pilot next month.
“Pay with Wells Fargo is another step in our journey to transform how we
serve customers and provide them with tools that make their financial
lives easier and simpler, and put them in better control of their
finances,” said Modjtabai. “The enhancements we are making in mobile are
an example of how Wells Fargo is innovating based on customer needs and
feedback about how they want to manage their money.”
With Pay with Wells Fargo, customers will be able to more easily access
the aspects of the Wells Fargo Mobile
®
app they
use most frequently, as customers increasingly want to check their
balance and move money via a mobile device. Additionally, through Wells
Fargo’s proprietary Control Tower experience, customers will be
able to better manage and control their complex financial lives,
empowering them to view and manage their account and payment
relationships from one central location.
Payments features that will be initially featured in the Pay with Wells
Fargo experience include Zelle,
mobile
wallets, Card-Free
ATM Access Code, mobile check deposits, and money transfers. Mobile
usage data shows that these are the mobile payments features Wells Fargo
customers use most often. For example, as of Q1 2018:
-
Since Zelle launched last year, Zelle transaction volume for Wells
Fargo customers increased 64%, and average transaction volume per
active Zelle user increased 19%
-
More than one million Card-Free ATM Access codes (launched last year)
are used monthly for ATM transactions3
-
Our customers value being able to donate to charities at our ATMs, and
have donated more than $8 million since launching the capability in
2007. Soon customers can donate to a charity of their choice right
from the Wells Fargo Mobile app.
Longer-term features of Pay with Wells Fargo will be customized based on
customers’ personal usage patterns. Customers also will have the ability
to customize the highlighted features themselves.
Last summer, Wells Fargo announced
Control
Tower
, a new, first-of-its kind digital banking experience that
provides customers a more comprehensive view of the places their Wells
Fargo card or deposit account information is connected — including
recurring payments, mobile wallets, subscriptions, etc. —and will, in
the future, enable customers to control when and where their Wells Fargo
account is shared via an on/off function from one single, convenient,
and secure place. This new mobile experience, available this summer in a
multi-state customer pilot, and then to all Wells Fargo customers later
in 2018, reinforces our strategy of providing customers a seamless and
comprehensive mobile payments and banking experience in their
increasingly cluttered digital lives.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo’s
vision is to satisfy our customers’ financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investments, mortgage, and consumer and
commercial finance through 8,200 locations, 13,000 ATMs, the internet
(wellsfargo.com) and mobile banking, and has offices in 42 countries and
territories to support customers who conduct business in the global
economy. With approximately 265,000 team members, Wells Fargo serves one
in three households in the United States. Wells Fargo & Company was
ranked No. 25 on Fortune’s 2017 rankings of America’s largest
corporations. News, insights and perspectives from Wells Fargo are also
available at Wells
Fargo Stories.
1 Business Insider Intelligence Study, October 2017.
2 Zelle and the Zelle related marks and logos are property of
Early Warning Services, LLC.
3 ATM Access Codes are available for use at all Wells Fargo
ATMs for Wells Fargo Debit, ATM and Wells Fargo EasyPay®
Cards using the Wells Fargo Mobile app. Availability may be
affected by your mobile carrier’s coverage area. Your mobile carrier’s
message and data rates may apply. Some ATMs within secure locations may
require a card for entry.