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Bank of America Plans New York Trial of Smartphone Payments

Bank of America Corp., the biggest U.S. lender, will start testing a system next month that lets people pay New York-area merchants through mobile phones instead of swiping plastic credit or debit cards.

The service may be expanded if the test goes well, according to Michael Upton, senior vice president of emerging capabilities at Charlotte, North Carolina-based Bank of America. New York City taxis, Walgreen Co. drugstores, Home Depot Inc. and McDonald’s Corp. restaurants in the region can accept mobile payments, Upton said.