Wells Fargo Reimagines Mobile Experience with ‘Pay with Wells Fargo’
May 10 2018 - 07:00AM
Business Wire
Brings most popular payment features front-and-center on the
industry’s #1 mobile app1, making payments on-the-go even easier
for nearly 22 million mobile banking customers
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.
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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 TowerSM, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180510005548/en/
Media ContactShelley Miller,
980-230-9489shelley.miller@wellsfargo.comorMedia
ContactHilary O’Byrne,
415-715-4958hilary.obyrne@wellsfargo.com
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