BofA launches card reader app for smartphones

BofA launching new app

Bank of America (BofA) and First Data are launching a new app and dongle-based service called Mobile Payment on Demand which turns smartphones into card readers.

Mobile Payment on Demand, allows merchants to accept Visa, MasterCard, Discover and American Express cards through their iPhone or Android handsets. The new service is similar to those on offer from Square and PayPal with users being charged a 2.7% transaction fee. The card reader and apps are free.

Once signed up to Mobile Pay on Demand, users can also access BankAmeriDeals and iDeals Marketing Platform Pro. 

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