This week at the Samsung Developer Conference in San Francisco, the Korean tech giant introduced new features for Samsung Pay — including cardless cash withdrawals and deposits at ATMs.
Samsung Pay Director Natalie Oestman introduced the new features and said that the object of the technology was to allow users to “get rid of your wallet.”
(Which raises the question of what you’ll carry your cash in instead.)
Oestman assured her audience that Samsung’s Knox security technology would protect any user and card data stored in the phone:
“Your card info and your transaction data are always stored in an encrypted, safe place,” she said. “Then we add tokenization and biometric authorization to make the transaction process even more secure.”
CNet has posted a YouTube video demonstrating the ATM cash withdrawal process with Samsung Pay.
Droid Life reported that initially, the ATM feature will be available at Korea’s Woori Bank, the country’s largest FI.
Oestman did not offer details as to if and when the functionality might be introduced in other markets.