Tag: bank of america

Bank of America Testing NFC Payments With Mobile Wallet Program

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bank of america mobile payments

Back at Mobile World Congress 2011, we heard RIM talk a lot about NFC payments and the fact that we’ll be seeing them on BlackBerrys this year. Following this news, we’re now hearing that Bank of America has started a new trial program called Mobile Wallet, that lets you make payments from your BlackBerry to any location where Mastercard’s PayPass is accepted. To use the program, you need a BlackBerry as well as a battery cover with a special antenna and a microSD card. The program will go live this Spring.

Read more about the upcoming program at this link.

Bank of America and Citigroup Testing Other Smartphones

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security

Several sites have noted that Bank of America might be dropping BlackBerry as their primary smartphone. This is a strange move considering financial institutions are one of the most important institutions to focus on security, along with government and defense. If the financial sector isn’t going to take security seriously, and use a smartphone that is built from the ground up to keep important data safe, how are we to trust these institutions with our money?

The fact that these institutions are allowing other smartphones on the network may be bad for RIM’s revenues or it might not. Bank of America for example, is allowing the shift to start in trials, and while the company has a lot of employees, the smartphone industry is growing at a rate that far outpaces the number of these employees shifting.

Does it worry you that your bank may be using a less secure smartphone?