Summary: Beacon, a new
add-on hardware device for merchants that leverages bluetooth technology to
enable consumers to pay at stores completely hands-free
PayPal has unveiled its latest
digital payments scheme ”Beacon”, promising
what could be the holy grail of mobile wallet solutions: easier than a credit
card.
What is Paypal Beacon?
PayPal Beacon is a Bluetooth
Low Energy device to connect to a customer’s PayPal app when they enter a
store. With one vibration or sound on your phone, you’ll know you’re checked
in. And when you’re ready to make a purchase, all you have to do is say you’re
paying with PayPal and the transaction is automatically completed: no cash,
cards, taps, or signatures required—all hands free.
How does PayPal Beacon works?
PayPal Beacon will connect
consumers to enhanced shopping experiences such as automatically ordering your
favorite dish at your usual lunch spot, or getting personalized service at your
favorite clothing store. In addition, you can choose to accept messages from
stores that you walk into, so that you can take advantage of special offers in
the produce aisle.
How can merchants take advantage
of this technology?
Merchants are focused on
providing easier ways for their customers to make purchases either online or
in-store. As more and more consumers embrace mobile technologies to do their
shopping, PayPal Beacon will allow you to connect to your customers as they
enter your store. By working with our open APIs, you’ll be able to craft an
experience that makes the shopping experience easier and more delightful for
your customers.
What is the value for consumers?
PayPal Beacon eliminates one
of the last remaining points of friction for consumers. With Beacon, you are
notified with a vibration or sound that there is an enhanced shopping
experience as soon as you walk in to a store. You can get notified immediately
when your prescription is ready, order your usual lunch at your favorite
restaurant, or simply walk to the counter with your purchases and say you’re
paying with PayPal—all done hands-free. The merchant does the rest and you
receive your receipt electronically.
Source: PayPal, techcrunch
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