Bank of America gets into card swiping with Mobile Pay on Demand, because 29 can play at that game

[ ](http://www.engadget.com/2012/11/13/bank-of-america-gets-into-card-swiping-with-mobile-pay-on-demand/)

To call the mobile-based card processing business crowded [would](http://www.engadget.com/2012/10/05/square-making-starbucks-debut-in-november/) [be a](http://www.engadget.com/2012/10/20/paypal-here-goes-on-sale-at-att-stores/) [slight](http://www.engadget.com/2012/09/19/groupon-payments-launch/) [understatement](http://www.engadget.com/2012/05/08/verifone-outs-sail-mobile-payment-system/) -- launching a reader is nearly an instinctual reaction for commerce outlets that see [Square](http://www.engadget.com/tag/Square/) running away with the market. What's to stop a bank from joining the fray? [Bank of America](http://www.engadget.com/tag/BankofAmerica/) doesn't see anything wrong, as it's starting up a me-too service through Mobile Pay on Demand. The headphone jack reader with Android and iOS support will seem very familiar to anyone who's been paying attention; the company does have some tantalizing lures for entrepreneurs, however, such as an ever-so-slightly lower 2.7 percent fee per transaction as well as a year-long deals marketing service subscription for any 2012 sign-ups. US shops that haven't already jumped on the bandwagon with Square (or Groupon, or Intuit, or Pay Anywhere, or PayPal or VeriFone) can pre-order a reader today and start taking payments on December 3rd.

Filed under: [Cellphones](http://www.engadget.com/category/cellphones/), [Internet](http://www.engadget.com/category/internet/)

[Bank of America gets into card swiping with Mobile Pay on Demand, because 29 can play at that game](http://www.engadget.com/2012/11/13/bank-of-america-gets-into-card-swiping-with-mobile-pay-on-demand/) originally appeared on [Engadget](http://www.engadget.com) on Tue, 13 Nov 2012 13:55:00 EDT. Please see our [terms for use of feeds](http://www.weblogsinc.com/feed-terms/).

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