iBeacon technology is fast gaining momentum and paving the way for efficient and seamless solutions across multiple domains today. Beacons are being used in almost every sector, from retail to events to education, to build and improve multiple solutions from indoor navigation to loyalty programs to pushing contextual notifications. One of the latest applications of beacons today are for proximity payments.
Proximity payments have experienced significant growth in the recent past and is projected to witness rapid growth in the near future.
Beacons are among the newest additions that are helping drive sales and digitize consumer payments in the FinTech world. They have been very beneficial for different industries including the retails industry. Given the benefit of coupling it together with other beacon enabled efforts such as loyalty programs, coupons and in-store navigation.
A large number of companies today are venturing into beacon enabled payment solutions, given its imminent benefits and wide ranging applicability. Here are some of the innovative companies that leverage iBeacon technology to deliver valuable payment solutions.
Paij
Paij is a Germany based mobile payment solution that strives to provide cashless, fast and secure payments through its app, which is available on both iOS and Android devices. Their beacon based payment solution provides great value for merchants and customers alike; the customizable iBeacon technology solution has many advantages like rapid self-checkout, promotions and personalized discount offers.To ensure payment safety, Paij also has a sophisticated risk-check processes to verify each customer, before the payment is collected.
PowaTag
PowaTag is among the front runners of the m-commerce revolution and uses a plethora of powerful technologies such as beacons, digital audio watermarks, visual tags and embedded social media links to deliver cutting edge payment solutions. They recently partnered with more than 1,200 global brands, to empower consumers to make quick purchases. PowaTag aims at converting every point of contact into a point of sale by easing the interaction with customers, offering personalized promotions and delivering efficient payment solutions.
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References:
https://blog.beaconstac.com/2016/05/beacon-based-mobile-payments-4-brands-that-are-doing-it-right/