Visa announces mobile payment trials in NYC this year

Vivotech NFC payment platform for mobile phones Photo: Vivotech.com

We reported just 4 days ago that you will soon have a digital wallet in your pocket, and today, Visa and Bank of America have teamed up to create the “digital wallet.” The news came via Reuters when the companies said they will run a trial service in New York for the duration of 2010, aiming to get the technology in our digital wallet as soon as possible.

Other companies in talks are Verizon Wireless, AT&T, T-Mobile USA and Discover Financial Services, they intend to offer mobile payments as well, just how they will go about it is still up in the air.

Bank of America launched mobile banking just 3 years ago, and since then has seen 5 million customers conduct $15 billion in transactions, all from their phones.

Mobile payments are going to get hot in Japan and South Korea too, where KDDI and SoftBank Mobile have announced plans to release Near Field Communications technology through the countries.

Soon my friends, that ringing talking box you’re holding will also pay for your movie ticket, sandwich at the cafe, or coffee at Second Cup.

BofA and Visa to test cell phone payments [Reuters]


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