Bank of America is to roll out its patented mini-payment card to 11 million cheque cashing customers.
Initially launched to credit card customers in October 2002, the Bank of America mini card is about half the size of a regular payment card and can be easily attached to a key chain, eliminating the need for consumers to constantly carry wallets and purses.
Customers are able to use the cards, issued as a supplement to their traditional cards, at all Visa-branded point-of-sale terminals, says the bank.
The card is to be made available to other banks later this year under a royalty deal agreed between the West coast bank and Visa.