Bank of America's trial of DeviceFidelity's microSD format NFC solution in New York will focus on the customer experience, the bank's Michael Upton has told Bank Info Security in an in-depth interview.
"We have seen, as everyone has, the growing adoption of smart-phone devices by our consumers and by the populous in the United States, and we feel that as more and more consumers continue to embrace smart phones, as data plans and packages continue to come down in price over time, this is a device and a paradigm that will be well received by the consumer," he explains. "Our particular trial at this point is a little less focused on, say, the given technology and a lot more focused on the customer experience, as we feel that's what is going to be one of the keys to driving the adoption."
The trial will see BofA's customers able to store multiple cards on their NFC-enabled phones. "We know that our customers carry multiple cards in their physical wallets, so we will be supporting multiple cards in the digital wallet," Upton adds. "The customers will have the ability to make choices between debit cards and credit cards when they are selecting how it is they want to make a particular payment at the point of sale."