Wednesday, September 22, 2010

US Testing Pay VISA via Phone!!

blogged by GmyDotCom

Bank of America & VISA are testing from September VISA payments by phone.
A "digital wallet" with financial feature would be built into some sophisticated mobile phones. Visa & its technology vendors are providing select New York - area employees & customers with small chips that emit radio signals over very short distances.

They can wave these phones over specialized point-of-sale devices in select stores. These POS would collect bank account data to complete their purchases.

Also within the year VISA will conduct similar card payment tests with US Bancorp. Meantime Verizon Wireless, AT&T, T-Mobile USA & Discover Financial Services are also planing a joint venture to offer such mobile payments services.

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