Recent moves by two big players in web and mobile commerce may turn Bluetooth into the missing link that enables consumers to pay in stores with smartphones. Paypal, has announced a new in-store mobile payments technology that uses Bluetooth wireless networking to make in store purchases, called PayPal beacon, and Apple has unveiled their version of the same thing- iBeacon.
These two companies have the ability to change the process of in-store purchasing completely. In order for the idea of mobile in-store payment to take a hold of our society, and leave the traditional way of using its successor: a card, it has to be significantly easier than pulling out your wallet, and swiping a credit card. Besides the ease in usability of in-store mobile payment, this method faces a number of hurdles in functionality and more importantly security.
Read the article to found out how these beacons will work and if they could make using credit cards a secondary nature.