SafePass from Bank of America

Bank of America Introduces SafePass

Yesterday, in a Finextra article, it was announced that PayPal has introduced it's 6 digit SMS program.  Now Bank of America has announced the release of the SafePass(R) Card - a "new wallet-sized card essentially builds on SafePass, a one-time-use, six-digit code sent as a text message to consumers' mobile devices to authorize and help safeguard sensitive transactions."

"The introduction of the SafePass Card extends this additional layer of security to customers who prefer to receive it through a card instead of their mobile phone," said Lance Drummond, e-Commerce and ATM executive for Bank of America. "Now, customers have an additional way to access security products that help them to manage their finances safely on-the-go."

The SafePass Card is available for a one-time fee of $19.99, while the mobile-phone-based SafePass is still a free service to all customers.

For more information on SafePass and the SafePass Card, visit http://www.bankofamerica.com/privacy/index.cfm?template=learn_about_safepass