Mobile payments system unveiled by Bank of America

Bank of America mobile payments

The financial institution has now launched their new program that is smartphone friendly. An affiliate of Bank of America has just announced that it has developed a mobile payments system for businesses, taking their first major leap into that highly competitive marketplace. The new system will allow companies to accept transactions over smartphones and tablets. The mobile payments system is called “Mobile Pay on Demand” and it gives merchants the opportunity to increase their payment method options by plugging a secure debit and credit card reader into an iPad or…

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QR codes to be central to new mobile payment service

qr codes used in mobile payment systems by banks

Bank of America will be using the barcodes as a part of a test program. The most recent step into the mobile payments wave is Bank of America, as it tests the use of QR codes that will permit customers to use their smartphones in order to complete transactions. This service will be available through iPhones and Android smartphones to make payments. The technology that is being tested by the bank was created by Paydiant, a growing name in the mobile payments industry. The solution that was chosen involves the…

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