Both Bank Of America and Wells Fargo are working on integrating Apple Pay into their ATMs, reports TechCrunch. The outlet says it has learned that ATM engineers from the two companies have been placed on assignments to build out support for Apple's digital wallet.
When questioned, Wells Fargo's head of ATMs Jonathan Velline implied that the report holds water, telling TechCrunch his team has been working on the technology that will allow the bank to hook into digital wallets to replace the need for cards during ATM transactions.
Banking-giant Bank of America announced on Thursday that 800,000 of its customers have enrolled to use Apple Pay, adding roughly 1.1 million cards to the service that was released within iOS 8.1 in October.
There is a glitch in Apple Pay that is causing some Bank of America customers to be charged twice for purchases, reports Bloomberg. A number of BOA card holders have come forward saying that they are seeing duplicate charges on their statements for Apple Pay-related transactions.
While some teething issues are expected with any new service launch—particularly on Apple Pay's—this has proven to be a serious problem. Customers affected by the glitch found themselves stuck between Apple and Bank of America customer service, with both sides passing the buck.
Bank Innovation shares some new details on Apple's mobile payments project this afternoon, reporting the company has managed to negotiate deals for lower credit card transaction fees with several banking institutions. This includes JP Morgan Chase, Citigroup, Capital One, and Bank of America.
Citing sources familiar with the negotiations, the site says that the banks have all agreed to give Apple a flat transaction rate for both in-store and online purchases, which is fairly uncommon in the industry. They will also apparently give the Cupertino firm a 10% discount on all of its processing fees.
U2, the famous Irish rock band from Dublin, has teamed up with Bank of America in a new promotion where the latter donates $1 for every free iTunes download of U2's new single titled Invisible to (Product) RED's charity which fights against AIDS.
The promotion was announced via a Super Bowl ad and was designed to help end mother-to-child transmission of HIV. Product (RED) was founded in 2006 by U2 frontman Bono, together with Bobby Shriver of the ONE/DATA, as a way of raising awareness and funds to help eliminate AIDS in Africa...