Snapdeal Acquires Wishpicker

Tesco Ireland Partners with LivingSocial

Retail: Maximizing Digital Coupons

Bank of America Abandons NFC for New Mobile Payment System

bank of america, nfc, dailydealmedia.comAs concerns about the security of NFC begin to take momentum, Bank of America has chosen to abandon the technology and adopt a new, image-based platform that it is currently testing.

The new system is being touted as a mobile commerce solution that is an alternative to NFC.

Retailers seem eager to adopt the platform, since its requirements are simple; all a retailer has to do is share a simple image with consumers. This removes the need for expensive hardware and could win the support of retailers around the world.

Bank of America will test the system for three months and Paydiant, a mobile payment startup, will oversee the BoAtrial as well trials by five retailers located in North Carolina.

Bank of America has not released details of the system nor when it expects to make use of it on a larger scale. The financial institution is confident in its safety however, which is one of the primary concerns surrounding the capabilities of NFC technology.

The new image-based system, will make use ofQR codes or a similar form of technology. Bank of America will also set up online authentication to regulate access to financial information. The system will make use of a mobile application that is able to read and integrate the financial information of a user and use this information to facilitate transactions for goods and services.

The system does not make use of proprietary technology, apart from the authentication system being put in place by Bank of America, allowing it to be accessible to a wide range of consumers and retailers interested in mobile commerce.

Source: Qrcodepress.com

Dervedia Thomas

Dervedia Thomas is a freelance reporter and writer. A native of Trinidad and Tobago, her interest in journalism began while she was a reporter for the student newspaper at South Carolina State University, where she did her undergraduate degree in marketing. She went on to earn an MS degree in Journalism from Columbia University as a Pulitzer Moore Fellow and focused on consumer reporting, social media, immigration and digital media. You can follow Dervedia on her personal blog at www.dervediathomas.wordpress.com or on twitter @derv05
Newsletter
DDM Reports
The 2014 Edition of the DDM Daily Deal Publisher Directory is the most comprehensive contact list for daily deal sites, flash retailers, aggregators and individuals operating in the daily deal industry. Each record includes the following: - Company Name - Website - Contact Name - Contact Title - Email - Phone - Address (not all records contain a full mailing address)
The 2013 Media List is a comprehensive database of all major media, bloggers and product/app review websites. If you're looking for PR distribution, this is a great list to begin with. Each record includes: - Contact Name - Publication Name - Website URL - Address - Email - Description
2.7M Consumer Subscribers. This data has been aggregated from a number of websites, which include daily deal sites that have gone out of business. Data includes: - Full Name - Address - Phone Number - Email - Signup Website - IP Address - Date of Signup Data will be delivered via a dropbox link in CSV format.