Print 12 comment(s) - last by Moishe.. on Oct 1 at 2:14 PM

Testing is expected to last three months, and customers with "newer" iPhones and Android-powered smartphones can participate

Bank of America is dipping into the mobile payments arena with a new trial taking place in Charlotte, North Carolina. Bank of America is partnering up with Paydiant, a mobile payments startup, to allow customers to pay for everyday items at registers via smartphones.
Initially, the pilot program is being tested out at five merchant locations in Charlotte, North Carolina. Testing is expected to last three months, and customers with iPhones and Android-powered smartphones can participate
“The pilots provide us with the opportunity to explore innovative mobile solutions, engage our customers and utilize their feedback,” said Tara Burke, Bank of America spokeswoman.
Prior to the mobile payments trial, Bank of America was also involved in a near-field communications (NFC) trial. While the bank is still in the midst of testing this technology, it’s looking to other avenues since not all phones have an NFC chip embedded. A notable non-NFC phone is Apple’s latest iPhone 5.
Bank of America is looking to lead the mobile payments revolution, and it looks like mobile is the way to go: Gartner said the market for global mobile payments is expected to surpass $171 billion this year.

Source: Reuters

Comments     Threshold

This article is over a month old, voting and posting comments is disabled

RE: BoA is moving in the right direction.
By Moishe on 9/28/2012 3:42:49 PM , Rating: 4
First of all, BofA Sucks pretty hard. Screw em.

As far as the "right direction" my issue is where it leads. Is NFC and mobile payments more convenient? Sure it is, but convenience is not king.

Why bother with keys if you have an NFC phone?

In order to go out with just a phone, you've got to tie all of your IDs to that device. Someone with that device IS YOU. They can drive your car without keys. They can pay as you. Get pulled? The phone proves it's you. You'd need all of your IDs tied to the phone. Library card, Concealed carry permit, passport, drivers license, voter ID, SSN, movie rental card, etc. Any one of these not tied in would require a wallet.

Your phone becomes a national ID in electronic form. One single database of information about you.

To me: that is a HUGE invasion of privacy.

RE: BoA is moving in the right direction.
By GotThumbs on 9/28/12, Rating: 0
By Moishe on 10/1/2012 2:06:36 PM , Rating: 2
Tool? I think not. Your opinion is noted.

I'm not angry at all. BoA is one of the worse banks around.

Second of all, what I say about the ID on the phone is 100% true. So... I don't get what the problem is?

Sure it's convenient. Lots of things are convenient, but very few of those things intrude on our privacy in that way.

A quick look at history proves that too much information in a single entity's hands is a bad thing. Add government and you make it worse because there is no competition or regulation.

I'll take a little inconvenience and maintain some sense of personal privacy, and I think most sane people would. Just because some people are sheep doesn't mean that we are all sheep or all wish to be sheep.

“And I don't know why [Apple is] acting like it’s superior. I don't even get it. What are they trying to say?” -- Bill Gates on the Mac ads

Latest Headlines
Inspiron Laptops & 2-in-1 PCs
September 25, 2016, 9:00 AM
The Samsung Galaxy S7
September 14, 2016, 6:00 AM
Apple Watch 2 – Coming September 7th
September 3, 2016, 6:30 AM
Apple says “See you on the 7th.”
September 1, 2016, 6:30 AM

Most Popular ArticlesAMD, Zen Processor might power the upcoming Apple MacBook Pro
September 30, 2016, 5:00 AM
Leaked – Samsung S8 is a Dream and a Dream 2
September 25, 2016, 8:00 AM
Are you ready for this ? HyperDrive Aircraft
September 24, 2016, 9:29 AM
Inspiron Laptops & 2-in-1 PCs
September 25, 2016, 9:00 AM
Apple’s Siri Speaker is a Game Changer
September 26, 2016, 5:00 AM

Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki