Contactless Smart Cards, RFID, Payment, Transit and Security

Valley National Bank signs with Bling Nation for mobile payments

Friday, June 18, 2010

Valley National Bank, a community bank with branches in Kansas and Colorado, is offering mobile payments to its customers and community with Bling Nation.

Customers with a checking account at Valley National Bank can sign up for a BlingTag, a quarter-sized microchip sticker that adheres to the back of their mobile phone to enable debit transactions directly from their account. Each time a purchase is made using a BlingTag, the consumer receives a transaction confirmation and account balance via text message.

There is also a rewards program when using the BlingTag. Valley National Bank customers receive 5% cash back with every Bling transaction up to $100. [end] 

MarketsandMarkets has released a new report predicting that the value of mobile payment transactions in the US will reach $56 billion in 2015.

According to the report, “Mobile Payment - Advanced Technologies (NFC), Strategies And Future Of Remote & Proximity Payment In US,” the market for NFC mobile payment in the US is currently in its infancy, with an adoption rate of only 1.7%.

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Bank of America will be testing NFC payments enabled through microSD cards, a spokesperson for the bank tells NFCNews.com. The program will begin in September and run through the end of the year in New York.

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American National Bank and Guaranty Bond Bank in Mt. Pleasant, Texas are now offering tap and go mobile payment to their customers and the community through Bling Nation.

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eNational Payments, a provider of mobile and contactless electronic commerce and payment processing services, has a entered into a strategic partnership with Mocapay, enabling its merchants and retailers access to Mocapay’s secure mobile payments solution and mobile marketing engine to reach customers in real-time.

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Multicard, a business unit of Identive Group, announced that it has been selected by Rabobank to provide personalization and fulfillment services for the Dutch bank’s latest application of its MiniTix cashless e-payment solution.

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Mobile payment start-up Bling Nation has landed a big deal with PayPal, enabling Bling Nation’s customers to make contactless mobile purchases using their PayPal account, according to techcrunch.com.

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