Tag - Bank of America
It is now possible to get money out from a bank account via Apple Pay, as Bank of America has started to roll out ATMs capable of using Apple Pay for transactions in a limited number of markets. Hinted at earlier this year, the first ATMs that are compatible with Apple Pay for withdrawals have been spotted in California, expanding a recent pilot program consisting of two ATMs based in the Bay Area of San Francisco into other markets.
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."
Now AAPL Stock: 150.58 ( -1.31 )
Cirrus creates Lightning-headphone dev kit
Apple supplier Cirrus Logic has introduced a MFi-compliant new development kit for companies interested in using Cirrus' chips to create Lightning-based headphones, which -- regardless of whether rumors about Apple dropping the analog headphone jack in its iPhone this fall -- can offer advantages to music-loving iOS device users. The kit mentions some of the advantages of an all-digital headset or headphone connector, including higher-bitrate support, a more customizable experience, and support for power and data transfer into headphone hardware. Several companies already make Lightning headphones, and Apple has supported the concept since June 2014. http://bit.ly/29giiZj
Apple Store app offers Procreate Pocket
The Apple Store app for iPhone, which periodically rewards users with free app gifts, is now offering the iPhone "Pocket" version of drawing app Procreate for those who have the free Apple Store app until July 28. Users who have redeemed the offer by navigating to the "Stores" tab of the app and swiping past the "iPhone Upgrade Program" banner to the "Procreate" banner have noted that only the limited Pocket (iPhone) version of the app is available free, even if the Apple Store app is installed and the offer redeemed on an iPad. The Pocket version currently sells for $3 on the iOS App Store. [32.4MB]
Porsche adds CarPlay to 2017 Panamera
Porsche has added a fifth model of vehicle to its CarPlay-supported lineup, announcing that the 2017 Panamera -- which will arrive in the US in January -- will include Apple's infotainment technology, and be seen on a giant 12.3-inch touchscreen as part of an all-new Porsche Communication Management system. The luxury sedan starts at $99,900 for the 4S model, and scales up to the Panamera Turbo, which sells for $146,900. Other vehicles that currently support CarPlay include the 2016 911 and the 2017 models of Macan, 718 Boxster, and 718 Cayman. The company did not mention support for Google's corresponding Android Auto in its announcement. http://bit.ly/295ZQ94
Apple employees testing wheelchair features
New features included in the forthcoming watchOS 3 are being tested by Apple retail store employees, including a new activity-tracking feature that has been designed with wheelchair users in mind. The move is slightly unusual in that, while retail employees have previously been used to test pre-release versions of OS X and iOS, this marks the first time they've been included in the otherwise developer-only watchOS betas. The company is said to have gone to great lengths to modify the activity tracker for wheelchair users, including changing the "time to stand" notification to "time to roll" and including two wheelchair-centric workout apps. http://bit.ly/2955JDa
SanDisk reveals two 256GB microSDXC cards
SanDisk has introduced two 256GB microSDXC cards. Arriving in August for $150, the Ultra microSDXC UHS-I Premium Edition card offers transfer speeds of up to 95MB/s for reading data. The Extreme microSDXC UHS-I card can read at a fast 100MB/s and write at up to 90MB/s, and will be shipping sometime in the fourth quarter for $200. http://bit.ly/294Q1If
Apple's third-quarter results due July 26
Apple has advised it will be issuing its third-quarter results on July 26, with a conference call to answer investor and analyst queries about the earnings set to take place later that day. The stream of the call will go live at 2pm PT (5pm ET) via Apple's investor site, with the results themselves expected to be released roughly 30 minutes before the call commences. Apple's guidance for the quarter put revenue at between $41 billion and $43 billion. http://apple.co/1oi1Pbm
Twitter stickers slowly roll out to users
Twitter has introduced "stickers," allowing users to add extra graphical elements to their photos before uploading them to the micro-blogging service. A library of hundreds of accessories, props, and emoji will be available to use as stickers, which can be resized, rotated, and placed anywhere on the photograph. Images with stickers will also become searchable with viewers able to select a sticker to see how others use the same graphic in their own posts. Twitter advises stickers will be rolling out to users over the next few weeks, and will work on both the mobile apps and through the browser. http://bit.ly/29bbwUE