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Table of Contents

Lead Story

How to keep tabs on reps, merchants – Part 2

News

Industry Update

Report tells acquirers how to stay in the game

Name for ATM payment hub

Trouble for UC in the U.K.?

Bitcoin kiosks enter marketplace

'Hands-free' payments beckon

Selling Prepaid

When Big Data meets fulfillment

Features

Opportunities on mobile horizon

Views

Visa's new third-party registration fees – unintended consequences

Ken Musante
Eureka Payments LLC

Tackle risk vectors to improve portfolio performance

Ross Federgreen and Ed Barton
CSR / G2 Web Services

Education

Street SmartsSM:
It's not what you say

Dale S. Laszig
Castles Technology Co. Ltd.

Busting myths about change

Jeff Fortney
Clearent LLC

Evaluating payment gateway performance

Chandan Mukherjee
PayCube Inc.

Company Profile

Cutter LLC

New Products

Funding approval in minutes

CAN Mobile Funder
www.capitalaccessnetwork.com

Seamless QuickBooks integration

ePNSync
www.eprocessingnetwork.com

Inspiration

Roll out the welcome mat at work

Departments

Letter From the Editors:

Readers Speak

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

September 23, 2013  •  Issue 13:09:02

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'Hands-free' payments beckon

On Sept. 9, 2013, PayPal Inc. President David Marcus revealed on the company's corporate blog its new iteration of hands-free payments at the POS. The solution, dubbed PayPal Beacon, takes advantage of wireless Bluetooth technology that reportedly bypasses the need for consumers to access mobile wallets or produce bankcards when paying for purchases at brick-and-mortar locations.

PayPal Beacon involves a device that plugs into a wall socket and communicates with retailers' POS systems and consumers' smartphones. The technology that underscores this communication is called Bluetooth Low Energy (BLE), which enables connected devices to communicate with each other seamlessly, while keeping energy consumption at low levels.

Marcus said that by walking into stores, consumers trigger a vibration or sound to be communicated between devices, which confirms a successful check in. When consumers are ready to check out, no cards, or even launching mobile apps on smartphones, are necessary. "Paying only requires a verbal confirmation, and you're done," Marcus said. "No wallet. No card. Nothing to do. Not even touching your phone."

Marcus said PayPal developers investigated other technologies before deciding on BLE. "We played with geo-location leveraging GPS and Wi-Fi," he said. "We played with geo-fences in iOS. But none of these solutions met our standards."

"With the introduction of PayPal Beacon, I believe we're opening the door to a fundamentally different way to use technology to make shopping richer and more valuable for consumers and merchants alike," Marcus said. "This technology is our most significant contribution to date in reinventing the in-store shopping experience."

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | USAePay | Super G Capital LLC | Humboldt Merchant Services | Impact Paysystems | Electronic Merchant Systems