DailyTech - Bank of America Launches Mobile Payments Trial in North Carolina

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Gadgets Bank of America Launches Mobile Payments Trial in North Carolina
Tiffany Kaiser - September 28, 2012 2:20 PM

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

(Source: s3.mbtcdn.com)

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

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RE: BoA is moving in the right direction.

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.

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"We basically took a look at this situation and said, this is bullshit." -- Newegg Chief Legal Officer Lee Cheng's take on patent troll Soverain