New Bank of America mobile banking features give clients instant one-touch access

Bank of America mobile banking - banking, economy, mobile phone

The Bank of America has announced a new feature designed to improve the mobile banking experience. The Bank of America mobile banking app will soon offer a feature that enables their mobile clients to switch between its app and the apps of its subsidiaries, without having to re-authenticate. These subsidiaries include Merrill Lynch, Merrill Edge, and U.S. Trust. Mobile banking clients can now manage their banking and investing with greater convenience. Without having to re-authenticate between the mobile apps, it is easier for clients to manage their banking and investing…

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Report predicts the explosive growth of mobile payments

Bank of America mobile payments

Bank of America report predicts that mobile payments market will grow 200 fold Bank of America has released a new report that predicts the explosive growth of the mobile commerce space. Over the next seven years, the bank predicts that the mobile commerce market will grow 200 fold. This growth is being powered by the aggressive adoption of mobile payments systems by retailers and the growing demand for such services coming from consumers. Mobile shopping is becoming more common and many retailers are beginning to focus on the mobile space…

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Visa launches its own mobile commerce platform

Visa Mobile Payments News

Visa is taking a bold step into the mobile payments field Visa is currently involved in a numerous mobile commerce platforms, but the company is interested in launching its own and establishing a yet stronger position in the mobile payments field. Visa has announced its new Checkout platform, which is very similar to other platforms that allow consumers to pay for products using nothing more than their mobile devices. The platform is meant to be familiar in order to avoid some of the problems that mobile users have when adopting…

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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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Bank of America snubs NFC in favor of alternative

Bank of America mobile payments

Bank of America testing new mobile payment system Bank of America has chosen to abandon NFC technology in favor of a new, image-based technology it is currently testing. The system that the bank is testing is designed to be a mobile commerce solution that is an alternative to NFC technology. The system seems to have an immediate appeal to retailers interested in mobile commerce as it requires them to share nothing more than a simple image with consumers. This removes the need for expensive hardware and could win the support…

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Everyone is talking about new mobile wallet technology

Mobile Payments

Though credit cards are still the standard here in the United States, in other parts of the world – such as Kenya – smartphones have replaced the card and card-reader technology which are now considered to be obsolete in that nation. In fact, among Kenyan adults, 70 percent use their mobile phones to pay for goods and services at a point of sale, and this country is not alone. Around the globe, an ever increasing number of people are using their mobile devices to pay for retail goods, groceries, and…

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