62 news stories.
• Should Bank of America (BofA) be in the NFCW Expo? Is this your organisation? Find out how to get your NFCW Expo showcase.
• Should Bank of America (BofA) be in the NFCW Expo? Is this your organisation? Find out how to get your NFCW Expo showcase.
Bank of America updates Android app to support Pixel 4 face unlock — 9to5Google — “Release notes for version 8.3.11 of Bank of America for Android prominently mentions the ‘Ability to sign in with face unlock (Pixel 4 only)’… After updating, you’ll need to enter your password one more time, and select the ‘Set up biometric sign-in’ checkbox. After completing BofA’s process, Pixel 4 face unlock will work on all subsequent sign-in attempts.”
Bank of America’s 27 million mobile banking users are now able to request a new or replacement debit card via the app — and instantly receive a digital version of their new card that they can use to start making purchases straight away... More
BofA jumps on tap-to-pay bandwagon as NYC’s subway moves forward — Bloomberg — “The lender will send 4m contactless cards this month to customers in New York, Boston and San Francisco who have Visa debit or credit cards… It plans to measure usage in those markets before deciding on a broader rollout at the beginning of next year.”
Bank of America unveils new mobile capabilities — Bank of America — “Bank of America today announced that it is introducing a new feature that will allow clients to move seamlessly between the Bank of America, Merrill Lynch, Merrill Edge and US Trust mobile apps without having to re-authenticate… The new app-linking feature will be available at Bank of America, Merrill Lynch, and Merrill Edge today and at US Trust in November.”
BofA Merrill introduces mobile wallets for business cardholders — Bank of America — “The millions of Bank of America Merrill Lynch cardholders who use our corporate, commercial and purchasing cards in the United States are now able to use Apple Pay, Google Pay and Samsung Pay to make business purchases.”
Bank of America wants to patent a cryptocurrency storage system — Cryptocoins News — “The patent envisions a future in which cryptocurrency is widely adopted by the general public but that consumers still entrust their funds to custodians such as banks rather than maintaining their own private keys.”
Bank of America delivers first widely available AI–driven virtual financial assistant — Bank of America — “Bank of America is rolling out the first widely available AI-driven virtual assistant of its kind in financial services, Erica, to its 25 million mobile clients… Erica is designed to learn from clients’ behaviours over time, helping them accomplish simple to complex tasks within the mobile banking app with easy-to-follow prompts. Clients can interact with Erica any way they choose, including texting, talking or tapping options on their screen.”
Zelle takes cashless payments to new heights — Bank of America — “Bank of America saw total Zelle transactions for 2017 hit nearly 68 million, an 84% growth rate from the previous year. In Q4 alone, Bank of America processed over 23 million transactions, totaling nearly US$7bn, up 91% from the prior year… Currently, Bank of America has nearly three million active Zelle users, and continues to add thousands of new users every day.”
Garmin and NXT-ID subsidiary FitPay expand Garmin Pay to Visa accountholders — Garmin and NXT-ID — “Garmin Pay is now available to Visa accountholders from numerous participating issuing banks including Bank of America, Capital One, and US Bank in the United States, and BonusCard, Cornér Bank, ANZ and NAB (National Australia Bank) internationally… Garmin Pay was initially launched in November 2017 for Mastercard accountholders.”
Landor Pulse: PayPal leads as most trusted financial services brand — Landor — “Approximately 30% of consumers rank PayPal as trustworthy, compared with 25% for Visa, 23% for Mastercard, and 17% for American Express… Apple Pay and Google Wallet are trusted by only 13% of consumers… Just 17% think Capital One and Chase are trustworthy, with Bank of America one point below at 16%… Bitcoin has the lowest rating of all, with only 6% of consumers believing it to be trustworthy.”
A big bank Is catching up to PayPal and Square — Barron’s — “Bank of America released its third quarter earnings on Friday morning and executives spoke confidently about Zelle, the payments platform used by several big banks. The total number of peer-to-peer payments made over the Zelle network by Bank of America customers jumped 68% on a year-over-year basis to 13.6m, and the total payment volume jumped 40% to US$4bn, the bank said. Earlier this year, Bank of America integrated Zelle into its mobile app.”
HSBC to let UK customers manage different bank accounts on one screen with new app — CNBC — “Customers can add accounts from up to 21 different banks, including Barclays, Lloyds and Bank of America. When a new account is added, login details for each account are tailored to that bank’s interface… The bank has spent US$2bn globally to work on its digital banking platform.”
Bank of America debuts new mobile tools focused on personalization — Bank of America — “Customers can now start an ATM withdrawal directly from their mobile banking app. Customers simply log into the app and select the desired amount to withdraw. When they arrive at the ATM, they can either use their smartphone or debit card, enter their pin, and a personalized screen will display asking the customer if they are here to complete the withdrawal, which eliminates four steps at the ATM.”
Fitness wearable maker Fitbit has launched Ionic, a smartwatch that will combine health and fitness functions with the ability to make contactless Visa, Mastercard and American Express payments as well as payments using the wearer’s Starbucks Card account... More
Bank of America, Samsung pilot iris-scan logins — American Banker — “Half of the bank’s mobile app users are using fingerprint authentication, which BofA rolled out in 2015. In addition to the iris scanning pilot, it is exploring the use of facial scanning and voice recognition.”
Bank of America and PayPal partner to enable in-store payments and account linking — Bank of America — “Bank of America will partner with PayPal to tokenize Bank of America cards for customers wishing to use PayPal for in-store purchases, across MasterCard and Visa portfolios in the US. This will support PayPal’s forthcoming NFC mobile wallet experience to enable in-store tap-to-pay purchases and reflects Bank of America’s open wallet strategy.”
Bank of America enhances customer choice: Provides secure and reliable access to data — Bank of America — “Bank of America is making updates to its Security Center and working with multiple financial data aggregators to provide customers the ability to simply and securely connect data from their Bank of America accounts to third-party financial management applications.”
More than a third of US consumers (36%) are now using person-to-person (P2P) mobile payment services, with millennials leading the way at nearly double that rate (62%), research released by Bank of America reveals... More
Android Pay has been integrated into the mobile banking apps of “several banks around the world” so that users can add their cards to the mobile payment service with “just the click of a button”. The feature will also work for those who have not installed Android Pay on their handset, giving them access to “the capabilities of Android Pay” without having to leave their mobile banking app. More
Samsung has unveiled its latest Galaxy S8 and S8 Plus flagship devices, with support for iris and facial recognition technology and a fingerprint sensor which is now located on the back of the phone. Samsung Pass deals with major banks, an expansion of Samsung Pay to include online payments and details of its Bixby virtual assistant have also been announced. More