U.S. Bank, Visa team up to offer a mobile-payment system

11/18/2010 | Bank Systems & Technology

U.S. Bank and Visa are teaming up with Monitise, FIS and DeviceFidelity to offer consumers the ability to make payments by waving their mobile phone before a Visa payWave contactless payment terminal. Employees at U.S. Bank will begin testing the technology this month. "Our customers have told us that they want to mobilize their accounts with us -- they want to make payments with their mobile device and this is a natural extension of our existing banking relationship," said Dominic Venturo of U.S. Bank. Bank of America is testing a similar contactless mobile-payment system with Visa.

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