BofA launches card reader for small businesses
Nov 13 (Reuters) - Bank of America Corp on Tuesday said it is offering small business customers a credit card reader that can be used through their smartphones, adding competition for providers such as Square Inc.
Bank of America Merchant Services, a joint venture between the No. 2 U.S. bank by assets and First Data Corp, said "Mobile Pay on Demand" will be available starting December 3. It works with smartphones and Apple Inc iPads.
The service comes with a free app and reader, the bank said. Merchants pay swipe fees with each transaction.
The device is the latest entry in a changing payments industry that includes "mobile wallets" in which customers use their smartphones to make purchases and new types of point of sale terminals for merchants.
- U.S. immigration protesters drop U.S. border blockade plan
- Nationalist leader says Scots tricked out of independence
- Exclusive: Angry with Washington, 1 in 4 Americans open to secession
- Selling Mitch McConnell: What's love got to do with it?
- Kurds issue new call to arms against Islamic State in Syria |