Tag - Bank of America
US megabank Bank of America has reported that nearly 800,000 of its customers -- representing 1.1 million credit or debit cards -- have signed up for Apple Pay over the last three months. The bank has recently started advertising the service in TV spots, calling it a "new, easy, secure, smart way to pay" using the Touch ID and other technology built into Apple's latest iPhone models. While no data on the volume of transactions was mentioned, the service continues to grow.
Siri will have at least some commands related to Apple Pay, according to sources "close to Apple" cited by Bank Innovation. The site says that it has confirmed this to an extent itself; on an iPhone 6 with iOS 8.0.2, telling Siri to "open my Bank of America credit card" will open up Passbook, rather than a Bank of America app. Doing so also prompts users to enter their passcode or Touch ID.
In preparation for its mobile payment technology, Apple has successfully negotiated deals with five major financial institutions -- American Express, JP Morgan Chase, Citigroup, Capital One, and Bank of America -- to lower transaction fees, sources say. One linchpin was convincing them that mobile payments constitute "card present" transactions, which have a lower discount rate than their opposite, owing to lower fraud risk. That card-present rate has been dropped another 15 to 25 basis points however, meaning that Apple should get a roughly 10 percent discount on processing rates.
During Bank of America's (Product) RED promotion on iTunes, over 3 million copies of U2's newest single were downloaded, according to an announcement. Over 1 million of those went out during the first hour after an ad promoting the deal ran during the Super Bowl. As a result of the initiative, over $3 million should go towards the Global Fund to fight AIDS, tuberculosis and malaria.
Bank of America will donate $1 to (Product) RED for every download of U2's free "Invisible" single on iTunes, the company announced during last night's Super Bowl. (Product) RED is an initiative which directs money from specially-branded products to the Global Fund, a charity dedicated to fighting AIDS, tuberculosis and malaria. RED was co-founded by U2's lead singer Bono in 2006.
Apple is among of a number of US corporations that have agreed to change hiring practices to avoid discriminating against the long-term unemployed, says the New York Times. The pledge comes at the behest of President Obama, who is hosting a meeting of CEOs at the White House later today to promote his efforts. White House officials say that about 300 businesses have agreed to alter hiring policies, including 21 of the 50 biggest American corporations, and 47 out of the top 200.
Bank of America is adding video conferencing to its automatic teller machines. The video chat facility will allow bank customers to see and speak to tellers in order to perform more advanced bank transactions than would normally be available to an ATM user, as well as providing a more personal experience to users.
Bank of America has begun testing a new mobile payment system using iPhones and Android phones, Reuters reports. The technology was developed by a company called Paydiant, and unlike a previous trial, doesn't depend on phones and stores being equipped with NFC technology. Instead payment card data is stored on a server, and when a person goes to pay, they load an app that scans a QR code displayed at a register. Five merchants in Charlotte, North Carolina are known to be participating, but Paydiant has refused to name any other parties involved in the trial. Only BoA workers are able to use the system at the moment.
The Financial Services Information Sharing and Analysis Center warned banks to be on heightened alert after Bank of America and JPMorgan Chase experienced unexplained outages of public-facing websites on Wednesday. The warning cited "recent credible intelligence" as the justification for raising the threat level similar to that of the Department for Homeland Security scale from "elevated" to "high."
The Bank of America has launched a new version of its mobile banking iPad app. The software allows users to manage all aspects of their account, including the ability to deposit a check by snapping a picture of it. Customers can also choose which BankAmeriDeals they wish to receive as rewards for their credit and debit cards, as well as send money to others via their mobile number or e-mail address. To ensure security, the app also encrypts all incoming and outgoing data.
Now AAPL Stock: 93.74 ( -1.09 )
Fiat Chrysler adding Siri Eyes Free
On Friday, automaker Fiat Chrysler issued a software update for selected 2013-2015 model cars to allow Siri Eyes Free, the precursor to the more fully-featured CarPlay, to be compatible with the vehicles' infotainment systems, including steering wheel control. The 2013 through 2015 model Ram 1500/2500/3500, the 2013-2015 Dodge Viper, the 2014-2015 Dodge Durango, the 2014-2015 Jeep Cherokee and Grand Cherokee, and the 2015 models of Dodge Challenger and Charger, Jeep Renegade, and Chrysler 200 and 300 can be upgraded through the Unconnect touchscreen, visiting the Uconnect site and entering their 17-digit Vehicle ID, then downloading the update to a USB drive. Installation can take up to 45 minutes, and can only be done while the vehicle is in park. http://bit.ly/23f0sby
Tor Myhren starts as VP of Communications
After an initial announcement in December, Apple on Friday added former Grey Group chief creative officer Tor Myhren to its leadership roster as VP of Marketing Communications, placing the well-known ad exec in charge of Apple's advertising and Internet marketing efforts, as well as having a hand in packaging design. He will report directly to CEO Tim Cook, and is replacing the retired Hiroki Asai, who left Apple after 18 years with the company. Myhren is expected to continue Apple recent push into more "lifestyle" marketing rather than product-centric ads, such as the well-remembered "I'm a Mac" campaign from last decade. http://apple.co/1Wwf0Dd
Marseilles Apple Store to open May 14
Apple has officially announced its newest retail store in France, which is to open in the southern port city of Marseilles in the Les Terrasses du Port shopping center on May 14 at 10AM local time. It will be the 19th full retail store Apple has opened in the country, or 20th if one includes the Apple Watch-only boutique at Galeries Lafayette in Paris. Apple is said to be planning a new showcase Paris store to be located on the Champs-Élysées. http://apple.co/1pP77vO
Maps adds Flyover, Suggestions locations
Apple has updated Maps to include Spotlight Suggestions for Denmark, Norway, and Sweden, allowing users to search both internally and across the web on both Mac and iOS devices for data in Spotlight. In addition, the company has added Puerto Vallarta, Mexico and Akron, Ohio to the 3D Flyover feature, offering computer-enhanced aerial views of the two areas -- and has activated real-time traffic information for Thailand, which will augment services like reminders to incorporate estimated travel times for appointments, as an example. The company recently added Nearby searches to five countries, and rolled out transit directions for Montreal in Canada and Portland, Oregon. http://apple.co/1Lh1Zel
Verizon gives last offer, issues workers ultimatum
Verizon has offered striking workers its "last, best and final offer" following 10 months of protracted negotiations with union leaders. The latest offer comes on the back of 36,000 Verizon employees taking strike action two weeks ago. The proposal includes a 7.5 percent wage rise, better benefits and voluntary retirement incentive offers. The striking workers, mainly on from its fixed line operations, have claimed that Verizon has outsourced 5,000 jobs to workers overseas and that it has been deliberately hiring low-wage, non-union contractors. Verizon recently posted revenue of $32.2 billion for the March quarter. http://cnnmon.ie/26AmwSv
CarPlay comes to Porsche 718 Cayman
Porsche has revealed that its new 718 Cayman series will be the latest vehicles in its range equipped with support for Apple CarPlay. The new Porsche models joins the recently announced 718 Boxster, the 2017 Macans and the 2016 model of the 911 in offering support for Apple's iOS in the car interface. Both are fitted standard with an eight speaker sound system and the Porsche Communications Management (PCM) system. The entry-level Cayman starts at $53,9000, while the faster S variant starts from $66,300. Although already on sale, the won't reach US dealers until late November. http://prn.to/1Tj1EW7
Macphun offers free Photos filters
Image editing software maker Macphun are offering a free set of up to 30 photo filter effects to extend the range of filter options available to users of Apple's Photos app for OS X, which replaced the previous iPhoto program. The first 15 filters are available after installing the software, and includes filters such as "Ancient Canvas" and "Twilight," while users who sign up for the Macphun newsletter will unlock the other 15 effects. The extension integrates directly into Photos, and include sliders for finer control of the effects and a masking brush. http://bit.ly/1VEgQD6