Retail Accounting

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PayPal Beacon to beam automatic, hands-free mobile payments

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PayPal Beacon“PayPal Beacon opens the door to a fundamentally different way to use technology to make shopping more valuable and more personal for consumers and retailers,” said David Marcus, president of PayPal.

So while swiping and tapping cards may have only recently become a norm for most, PayPal is pushing for more – or less, so to speak.

“We challenged ourselves to find a better experience than swiping a credit card. We figured the only better way to pay would be to do nothing,” he said.

“Just walk in a store, and, like magic, when you’re ready to pay, money is transferred securely. No wallet. No card. Nothing to do. Not even touching your phone.”

Hands-free payment

According to PayPal, on the merchants end, Beacon is a simple add-on USB to any Point-of-Sale systems that are compatible with PayPal.

Users will have the option to set which stores they automatically get checked into (as in your usual morning coffee shop), which ones will have automatic payments and which will require approval for payments.

“Consumers will have full control of stores they will want to check in to, those they will want to get prompted to confirm payment for, and stores they will want to enable a complete hands-free experience for,” PayPal said.

PayPal also assures us that customer’s won’t be tracked and unless you check-in, no information will be passed onto PayPal or the merchant.

While all this hands-free shopping sounds very exciting, the Beacon device won’t be ready for merchants until next year.

And of course, there may also be hiccups with wrongful charges or customers walking away without paying, but we’d assume all these will be ironed out by PayPal by next year.

http://www.techradar.com/news/world-of-tech/future-tech/paypal-beacon-promises-automatic-hands-free-mobile-payments-1179527?src=rss&attr=all

 

Author: retailaccounting

CounterBooks is an online retail accounting management suite which is used by retailers across the world.

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