October 11th, 2013 by Elma Jane
PayPal payments giant may finally have found a way to get people to use (Quick Response Code) QR Code.
The company is introducing Payment Code today, a new technology intended to enable shoppers to make purchases by scanning a QR code on their mobile phone, or receive a short four-digit code on their phone, to complete a purchase. “Payment code is easy to use and understand and utilizes a ubiquitous technology that merchants have and are familiar with. If the merchant has a barcode or QR code scanner, the merchant scans to complete the transaction. If the merchant doesn’t, then a four-digit code pops up on the shopper’s phone that can be entered into the PIN pad at checkout.
According to the PayPal blog, Payment Code is an extension of the company’s offerings aimed at enhancing in-store payments. Their approach isn’t to push technology for technology’s sake, but to truly make the paying experience better for consumers and to give merchants more opportunity to innovate without a costly investment. When shoppers are ready to pay, they open the PayPal app (or the specific merchant’s app) and check in at that location, which will result in the app prompting them with a QR code, or a four-digit short code, to authenticate their purchase.
Posted in Financial Services, Merchant Account Services News Articles, Mobile Payments Tagged with: app, authenticate, check in, code, costly, in-store payments, merchant, mobile, payment, PayPal, phone, purchase, QR, QR code, quick response, Scanning, shoppers, technology
October 11th, 2013 by Elma Jane
U.S. Bank and Monitise will develop a mobile shopping experience that includes product selection and instant checkout payment capabilities. Leveraging digital and audio watermarking and scanning technology for product discovery, an initial pilot will integrate mobile action codes, mobile shopping and mobile payments.
Mobile money solutions provider Monitise and U.S. Bank announced an agreement to accelerate the delivery of a product discovery and shopping service that the companies say will make it easier for top-tier retailers to help consumers interact with and buy from leading brands via mobile.
“Technology is creating new ways to bank and buy, and U.S. Bank is committed to playing a leading role in the digital commerce revolution as money becomes more mobile,” developing mobile money services has been a key focus for the company.
“As mobile technology accelerates the convergence between the offline and digital worlds of banking, payments and commerce, banks are identifying new revenue streams and driving value for both retailers and consumers,”
Posted in e-commerce & m-commerce, Electronic Payments, Financial Services, Mobile Payments Tagged with: banking, banks, checkout, convergence, electronic, etailers, mobile, mobile action codes, mobile shopping, money, payment, Scanning
At the heart of mobile payments is persona. In a cash based humanity, persona isn’t a very big anxiety as everyone’s money is the same. But if you are going to be swiping, scanning, or only signalling to the Starbucks barrista as she agrees your picture to your face, your persona is the critical enabler to making the entire design work.
So it might be a good idea to gaze at the concept of persona a little more nearly. Identity habitually arises as a part of a structure intended to permit the identifier some kind of rights and privileges while defending the interests of the identifying party. The outcome of this need is some kind of identification, which could be a borrowing card, passport or driver’s license, or a myriad of alike things. Read more of this article »
Posted in Mobile Payments Tagged with: Commitment Cards, credit cards, Iphone, Mobile Payments, Scanning, Swiping
