Bank of America Launches Mobile Payments Trial in North Carolina
September 28, 2012 2:20 PM
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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.
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RE: BoA is moving in the right direction.
10/1/2012 2:14:37 PM
I think the logical end is that once you start tying IDs to a device, it makes sense to carry that into all your IDs.
Either way, I said that because he said he wants to leave the house with just his keys and phone. That indicates that you have to make a separate thought process in order to go to the library (for instance) if your library card is not tied in. You'll always be without that ID unless you either remember to carry this one time (annoying) or tie that ID in.
But specifically what he is talking about is his driver's license and credit cards. Those are the worst IDs to lose. That person is you, can drive and get tickets as you and cab purchase things as you.
The tech wouldn't work unless you have strong biometrics embedded into the device.
I'm thinking that once NFCs are common and popular, we are going to hear a lot of stories about NFC theft.
"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
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