Tag: nfc technology

Square could bring Apple’s mobile payments service to small businesses

| November 28, 2014

Square plans to expand its support of Apple Pay

Small businesses may soon get access to Apple Pay, thanks to payments firm Square. Launched last month, Apple Pay has become somewhat popular among retailers. The service enables companies to accept payments made by mobile devices, specifically the iPhone 6. Currently, some large retail organizations are among the few that actually support Apple Pay, but smaller retailers will soon be able to accept mobile transactions through the service.

Square offers a variety of services to organizations that are interested in mobile commerce

Square is often seen as a strong competitor in the mobile payments field. The company, however, provides services to a multitude of other organizations that are interested in mobile payments. Square offers physical point-of-sale terminals that are able to accept and process mobile transactions from a variety of different payment services. The company plans to integrate Apple Pay support into these terminals in the near future, allowing retailers using these point-of-sale systems to work with Apple’s new payment service.

Updates to Square’s module card reader are in the works

Mobile Payments - iPhone 6 & 6 plusThis will, of course, require hardware changes for Square’s payment systems, such as its mobile card reader. New hardware will be introduced to the firm’s card reader in order to give it NFC capabilities. NFC technology currently makes up the backbone of mobile payments and there are a growing number of services that use this technology to process transactions. The issue, however, is that the Apple Pay service will only work with the iPhone 6 and iPhone 6 Plus. That may change in the future, however, and Square’s upgraded card module may be able to give NFC capabilities to older versions of the iPhone.

Demand for mobile payment services among small businesses is on the rise

Square’s support of Apple Pay may make the payment service more attractive to small businesses. These businesses have an interest in mobile commerce, but have relatively few options available to them when it comes to engaging mobile shoppers. Many services are designed with large retailers in mind, ignoring smaller organizations that also want to use them.

BitPay developing new mobile payments app based on NFC technology

| November 10, 2014

Bitcoin continues to gain momentum in the retail space

One of the most powerful trends to emerge in the retail space recently is making the purchase process more convenient for shoppers. A growing number of retailers are beginning to embrace mobile commerce, hoping to streamline the checkout process and make it possible for consumers to get into a physical store and complete their shopping faster than ever before. As mobile shopping grows in popularity, so too is digital currency, such as Bitcoin. This currency is seen as massively convenient , which could make it a powerful mobile commerce tool.

BitPay teams with SumUp to develop new mobile app

BitPay, one of the leading Bitcoin payment processors, is working to make paying with Bitcoin more simpler than it already is. The organization wants to see Bitcoin become more convenient for consumers, but also more attractive for merchants interested in the digital space. In order to do so, BitPay has partnered with SumUp, a developer of point-of-sale systems that accept Bitcoin payments as well as payments made with conventional currencies. Together, the two organizations are developing a new mobile application that will help merchants better connect with consumers.

Demand for Bitcoin payment services is on the rise

bitcoin mobile paymentsBitcoin is gaining more attention in the mobile commerce space because of its high value and versatility. While the digital currency is somewhat volatile due to the lack of regulation policing it, consumers have shown significant interest in using this currency to purchase products online. Bitcoin has been moving into the physical world at a rapid pace as well, with a growing number of merchants accepting this currency in their stores. The demand for payment solutions that accept Bitcoin payments has grown significantly as a result.

New app will leverage NFC technology rather than QR codes

The new app being developed by BitPay and SumUp will be based on NFC technology. For years, Bitcoin payments were largely handled through the use of QR codes. These codes have to be scanned with a mobile device in order to initiate a transaction. Using NFC technology, however, a shopper can simply tap their phone to a point-of-sale system and finalize a payment in a matter of seconds.