Tag - Wells Fargo
A new report confirmed by the head of Wells Fargo's ATM division suggests that at least two large US banks are working on adding NFC secure payment functionality to automatic teller machines, giving customers the option of simply waving their smartphone or Apple Watch to use Apple Pay-style authentication rather than the traditional debit card insertion and PIN confirmation entry. The system will also support other mobile wallets, and is being tested with Android Pay currently.
US bank Wells Fargo is offering one-time payments as an incentive to try Apple Pay. Customers willing to make a first-time credit card transaction through the service are being given $20, while a debit or prepaid transaction is worth $10. Both offers expire after November 30th; the $20 credit should appear on a statement in one or two billing cycles, but the $10 credit should appear in a checking account within 45 days.
Kodak is drafting Chapter 11 bankruptcy filings in the event it can't sell patents in the next few weeks, insiders asserted Wednesday. The proposed plan seen by the Wall Street Journal would see the camera legend possibly enter bankruptcy later this month or in early February. The reorganization would see it get $1 billion of debtor-in-possession funding and sell its entire library of 1,100 patents through a bankruptcy auction rather than a typical process.