Visa Contactless Payment System Under Trial With Bank Of America

Remember the news from earlier this month about network heavyweights AT&T, Verizon and T-Mobile getting down in a huddle to launch a new mobile payment transaction system that could potentially replace the plastic card in your wallet with your smartphone? Well, Visa already seems to be upping its ante to tackle any such competition. The […]

Remember the news from earlier this month about network heavyweights AT&T, Verizon and T-Mobile getting down in a huddle to launch a new mobile payment transaction system that could potentially replace the plastic card in your wallet with your smartphone? Well, Visa already seems to be upping its ante to tackle any such competition.

The payment services provider is learned to have partnered with Bank of America to launch a pilot contactless payment transaction system that will make use of MicroSD NFC communicators and In2Pay iPhone cases.  The study group at present is noted to be pretty small with only a handful of employees and customers getting access to the mobile RFID chips for trying the new system. Nevertheless, this is going to be interesting and we should be able to see how Visa (and Mastercard for that matter) innovate to retain their relevance in this wirelessly connected market.