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PayPal and Apple Drop Mobile Payments Beacons

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.

Mobile Commerce Technology – PayPal and Apple drop mobile payments bombshells – Internet Retailer.

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