Visa, Wells Fargo test mobile payments

Visa has entered into another mobile payments test, this time with Wells Fargo. The pilot sees 50 Wells Fargo employees paying for some products and services with specially equipped phones rather than credit and debit cards. Assuming those tests go well, Wells expects to ask between 300 and 500 customers to sample the mobile payment system, which Visa began building earlier this year. Visa said only 32,000 of the more than 5 million U.S. merchants that accept its cards can process contactless or mobile payments.

For more on the pilot:
- read this press release