According to a story by Rachael King of Bloomberg BusinessWeek, Wells Fargo is opening the New Year with a mobile payments test run in San Francisco. 200 of the company's employees will be participating using a technology that can be inserted into existing phones by way of a microSD card. To make payments at participating retailers, employees will simply open the Wells Fargo Mobile Banking app, select the pay-with-phone button. and wave the phone in front of special mobile-payment readers.
The test run program is headed by Peter Ho, product manager of card services at the bank, who had also led a test several years ago that used a Nokia phone for mobile payments at restaurants and retailers. While the bank found the convenience was a plus, Wells Fargo decided not to pursue an offering for customers at the time. Working on only one platform was a key reason.
King's story is interesting because it provides more insight into the usage of near-field communications (NFC) technology.
Many research firms believe 2010 will be the year pay by mobile device takes off because along with more phones with NFC technology available, merchants will also be set up to receive this type of payment.
For the test drive, participating employees will be given microSD cards to use with their BlackBerry Bold 9650, BlackBerry Bold 9700, BlackBerry Tour 9630, iPhone 3G, iPhone 3GS, and iPhone 4. Since the iPhone doesn't accept microSD cards, a special case will be used that has been designed to accept the cards.
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