PayPal Inc. is dropping any pretense of not pursuing point-of-sale payments directly. The eBay Inc. subsidiary now promises that it has new services coming for paying at physical locations using smart phones.
Third-party software developers for several years have been designing various apps that have blurred the line between traditional POS and online payments. PayPal, which first offered mobile payments in 2006, contributed to this major shift two years ago when it opened its network to outside developers. But PayPal repeatedly has said that the company itself had no direct designs on physical storefronts.
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Starbucks: trialling contactless payment in UK stores
Starbucks is to follow rivals such as Costa Coffee and McDonalds by offering contactless payments in its UK stores. The coffee-shop chain has signed a deal with Barclaycard, in partnership with Visa Europe, allowing consumers to pay for products by scanning their contactless credit or debit card over a payment terminal.
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According to the recently released results of a survey from MasterCard; it looks like the public, especially the younger generation, are willing to embrace NFC if it ever becomes the standard method of payment in the future. Though it wasn’t mentioned how many people were included in the survey, it is supposedly an accurate representation of the total US population ages 18 and over. From their findings, 63% of the US population aged 18-34 would be at ease with using mobile phones to make payments, while in the 35 or older age group, only 37% are comfortable with the idea.
O2 will be working with Wave Crest, FIS, Intelligent Environments and Visa Europe to get its O2 Money product into a mobile phone before the end of 2011.
The new best friends will provide the infrastructure, point of sale terminals and customer support for the phone-embedded service, which is due to launch later this year.
McDonald’s will be introducing contactless payment technology throughout all their restaurants this month. I can see why they would do this; as customer adoption increases the average till time will decrease and there will be less cash to deal with.
The interesting thing is that McDonald’s expect this to increase revenue:
Mark Fabes, UK IT director for McDonald’s, said that the move will improve the customer experience. “It’s about the customer journey. It’s quicker than the chip-and-pin transaction,” he said. The firm doesn’t expect the service to experience heavy use initially, but to grow in time, leading to increased revenue.
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