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Mobile payments firm, Paydiant, to be sold to PayPal

03/06/201503/04/2015 Jennifer Goula

This acquisition has been announced as the competition from Google and Apple continues to rise. The PayPal unit at eBay has now announced that they will be purchasing the mobile payments company, Paydiant, as it works to enhance its strength in the market while competition continues to grow in the in-store environment, particularly from large players such as Google and Apple. The deal will provide PayPal with immediate access to the businesses who are already using Paydiant tech. Those businesses include a large number of customers ranging from Subway to…

Bank of America snubs NFC in favor of alternative

09/28/2012 Stephen Vagus

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…