updated 02:25 pm EST, Fri February 25, 2011
Bank of America to trial Mobile Wallet system
The Bank of America has started a pilot program that involves wireless payments using customers' smartphones, an unnamed source told BGR. Dubbed Mobile Wallet, the system relies on NFC technology and is so far only compatible with BlackBerry handsets. Bank of America sends users an NFC chip-equipped battery cover for their handset along with a microSD card.
Compatible handsets include the Curve 8520 and 8530; the Bold 9000, 9650 and 9700; and the BlackBerry Tour 9630. The program launches this spring and payments can be made in locations where MasterCard's PayPass is accepted.
NFC is becoming more popular and widespread, as the next iPhone is expected to have the feature. Android 2.3 has support for it built-in.