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Bank of America (BAC) Confirms ApplePay (AAPL) Double-Charge Issue, Working to Fix and Refund Duplicate Charges

October 22, 2014 1:54 PM EDT

Bank of America (NYSE: BAC) confirmed earlier reports that bank customers using Apple's (NASDAQ: AAPL) new mobile payment service ApplePay were being doubled charged. The company said all duplicates charges will be refunded.

"We apologize for this inconvenience and are correcting this issue immediately," Bank of America said in a statement to StreetInsider.com. "All duplicates will be refunded."

Bank of America said only about 1000 transactions were impacted by the problem.

It is unclear if customers at other banks are having the same issue.

Launched Monday, Apple Pay allows users to wirelessly pay at participating retailers securely and conveniently with their phones. Apple Pay works with most major credit and debit cards including Visa, MasterCard and American Express.



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