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Paypal unveils Beacon.

Paypal unveils their new device called Beacon. Beacon is a small device that devotes itself to shopping and restaurants. The device will check a person into whatever store or restaurant they enter and offer new product offers based on that person’s interests. When the person is done, they can check themselves out without having to go through the cashier. The device uses low energy and does not need internet to be used. The biggest plus for Paypal is their connection with NCR. As of now, many of Paypal’s competitors, such as Square, MasterCard and clinkle, are getting their products out there too. However, Paypal has a very large user base. Beacon is set to release 2014, until that time, Paypal has released an app that is similar to beacon, but not quite like it.

Source: http://venturebeat.com/2013/09/09/paypal-unveils-beacon-device-that-lets-you-pay-with-your-identity/