U.S. Bank is partnering with DeviceFidelity, FIS and Monitise to introduce contactless mobile payments via Visa’s PayWave technology to its customers.
U.S. Bank is one of the first major card issuers in the United States to pilot this technology, which enables customers to conduct transactions with a wave of a smart phone.
The solution leverages DeviceFidelity’s In2Pay microSD or its specially-designed iPhone case (In2Pay iCaisse). FIS and Monitise developed the application that enables customers to make mobile purchases and access account information.
U.S. Bank employees in multiple states will begin testing this month, and plans are underway to introduce it to select customers next year.
U.S. Bank has been at the forefront of innovative mobile payment solutions. Last month, the company launched a full-suite mobile banking solution with bill pay capabilities for prepaid cardholders, which it claims is the first of its kind in the prepaid marketplace. It was also the first large American bank to test the Visa Money Transfer person-to-person mobile payment service, and was one of the first banks to test the Visa Micro Tag, an early contactless mobile payment device.