Samsung Introduces Phone-To-ATM App

SEOUL -- A new app from electronics giant Samsung allows for cash withdrawals and deposits from ATMs compatible with Samsung Pay. The ATM app employs fingerprint identification and backup password procedures.

The new phone-to-ATM interface is only available at select banks in South Korea, Samsung's home country, but is expected to become available the global marketplace at some point in the future.

Introduced a year ago, Samsung Pay is seeking to become a serious competitor to Apple Pay.