Dive Summary:
- In-store mobile payments could take a big step forward thanks to new Bluetooth beacon technology being utilized by PayPal and Apple.
- Paypal has announced the introduction of a new mobile payment system for Bluetooth, Paypal Beacon, while Apple has unveiled iBeacon, which utilizes the same technology.
- “Silicon Valley has anointed Bluetooth as its mobile payments technology of choice, and an all-out war against the established payments industry could be just a short time away,” says Rick Oglesby, senior analyst at mobile payments consulting firm Aite Group.
From the article:
In-store mobile payments face a number of hurdles. But the bottom line boils down to this: Is a mobile payments method easier than swiping a credit card? Because if it’s not, consumers are not going to bite. And so far, with every style of mobile payments, it’s still easier for a consumer to whip out a card and run it through a card reader.
