While the lack of near field communication handsets may be hampering widescale deployments of the payment technology, there are some companies carving a niche in supplying solutions that enable NFC payments on existing handsets.
DeviceFidelity’s microSD solution is being used in the Bank of America pilot in New York, says Deepak Jain, co-founder, CEO and president at DeviceFidelity. U.S. Bank, J.P. Morgan Chase and Wells Fargo in the U.S. as well as four major banks in France are also using the technology.
The company was founded three-years ago with the sole purpose of enabling payment on different mobile devices, Jain says. It delivered the first products in 2010.
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