Wells Fargo to take another try at smartphone payments
By Credit.com Staff
Wells Fargo will soon begin testing its second mobile phone near-field communication payment system with a group of about 200 employees at its San Francisco office, according to a report from Businessweek. If that six-month trial run is successful, a commercial service may be launched soon after.
"We have made an investment in this technology, and we hope this investment pays off," Peter Ho, product manager of card services at Wells Fargo, told the news source.
The company tried to launch a similar program several years ago, not using credit card accounts, but debit, the report said. It was not offered to the general public at the time because only one type of handset was capable of transmitting the data.
Many companies have tested this type of program in recent months in limited capacities, and none have opted to expand them nationwide to this point.