Bank of America Corp is piloting a new way for customers to pay for items at store registers, potentially changing the way we make payments in the future, reports Reuters. With the new technology consumers will scan an image with their smartphones, which taps into a mobile wallet for payment.
The pilot, which is taking place in Charlotte, N.C., headquarters of Bank of America, will last for three months and involve five merchants. Bank employees using newer iPhones and Android-based phones will be the program’s participants.
The bank is partnering with Paydiant for the trial. Paydiant’s technology enables mobile payments via QR codes and can also be adapted to other mobile payment methods.
Paydiant is testing its technology with five banks and financial services companies.
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