Bank of America is in the process of testing a mobile payments service in collaboration with Paydiant, according to Reuters. During the pilot programme – tested in Charlotte, North Carolina - customers store their payment cards on a computer server and when they pay, they use an application on their phone that scans a Quick Response code displayed at the register. However, the pilot is set to last for three months and only the bank's employees have access to it.
The US financial institution, which in the past experimented with NFC technology, has not made it clear whether it will continue doing so, but has said it will continue to test and monitor the marketplace. NFC suffered what some would call a setback when Apple unveiled its latest iPhone without NFC chips.