Smartphone payments from Visa and Bank of America

24th August, 2010 by adina
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Visa and Bank of America have recently announced their joint plan to trial a new smartphone payment system for making purchases in the New York region starting September. Even if this technology has already been used for a while in other countries, such as Japan, this would be the first time that this technology has been implemented on this basis in the USA. Similar to others, the system will rely on small NFC (near field communication) chips in smartphones.

The development comes after the news which claims that Apple may already be developing NFC iPhones. The method adopted by Visa and Bank of America appears to be very similar. Despite this, it seems that Apple will not take part in any of the actual trial.

In Japan, NFC is very popular for purchases in stores and in transportation; similar acceptance may be gained in Europe, as Nokia and others plan to make NFC standard in their own phones starting 2011.


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