Bank of America tests technology to pay with phones

Bank of America Corp is testing a technology that allows a customer to pay at a store register by simply scanning an image with a smartphone, such as Apple Inc's iPhone or Google Inc's Android devices.

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The pilot program is being tested in Charlotte, North Carolina, where the second-largest U.S. bank is headquartered, and marks the latest effort by a financial institution to come out on top in the race to determine how people will pay for things in the future.

In the trial, Bank of America has partnered with Paydiant, a startup that has developed a technology to allow such mobile payments. It doesn't require new phones or hardware for merchants.

Read the article to see how your members can scan QR codes with their phones to make payments.