Finance Breaking news Bank of America brings mobile wallet to EMEA and APAC last financial news

Breaking-Finance.Com - Bank of America has expanded its mobile wallet capabilities for corporate clients in EMEA and APAC.

Finance Breaking news Bank of America brings mobile wallet to EMEA and APAC last financial news

Breaking-Finance.Com - Bank of America has expanded its mobile wallet capabilities for corporate clients in EMEA and APAC.

Finance Breaking news Bank of America brings mobile wallet to EMEA and APAC last financial news
29 July 2020 - 12:15

Breaking-Finance.Com - The bank first launched mobile wallet in the United States and Canada in 2018, and this expansion makes it the first commercial bank issuer to offer the technology to corporate clients worldwide. The bank’s clients who use its Corporate Travel and Purchasing cards in EMEA and APAC are now able to use Apple Pay® and Google Pay® to make and manage card purchases. This makes its clients’ lives easier through faster, more secure and efficient business transactions, while providing the same convenience they experience in their personal banking. With social distancing being paramount right now, a smooth and entirely contact-free payment experience is all the more relevant for users. “This new functionality underlines Bank of America's investment in enhancing the cardholder experience,” said David Voss, head of Commercial Cards for Global Transaction Services (GTS) EMEA. “Our business lives are increasingly digital and mobile, and the same applies to making payments. Enabling our clients to transact using their mobile devices delivers convenience, security and efficiency.”  “Clients are looking for even more secure ways to pay, and Mobile Wallets deliver a fully digital payment experience, avoiding potential exposure of sensitive card credentials,” said Clara Wang, head of Asia Pacific Corporate Payables, Cross Currency and Commercial Cards Products, GTS.

.” To help protect client information, mobile wallets use a process known as tokenisation, where sensitive card data is replaced by a token. When making a payment via mobile wallet, only the token is passed to merchants instead of the actual card data. This improves payment security as it prevents exposure of sensitive card information to merchants. For additional security, when making a payment using mobile wallet, the cardholder will need to complete identity confirmation, such as facial recognition, a thumbprint or passcode, to complete the transaction. This verification process occurs on the cardholder’s mobile device and typically replaces the need to enter a PIN on the merchant’s terminal. This mobile wallet capability is available to users in 29 countries in EMEA and APAC, with additional countries expected to be added. Mobile phones and smart watches are also supported.  

Source = Breaking-Finance.Com

Financial breaking news

This news 86 hits received.

Finance Breaking news Bank of America brings mobile wallet to EMEA and APAC last financial news


Finance Breaking news Bank of America brings mobile wallet to EMEA and APAC last financial news


Finance Breaking news Bank of America brings mobile wallet to EMEA and APAC last financial news


Finance Breaking news Bank of America brings mobile wallet to EMEA and APAC last financial news

COMMENTS

  • 0 Comment
MAY INTEREST YOU x
Finance Breaking news Ripple weighs move to London over XRP's security status last financial news
Finance Breaking news Ripple weighs move to London over XRP's...
Finance Breaking news TrueLayer enters Australian Open Banking market last financial news
Finance Breaking news TrueLayer enters Australian Open Banking market...