Customers pay by swiping smartphones, not credit cards
It’s the latest payment technology and it’s taking off in California. People are blinging all over Palo Alto, CA. Blinging—making a payment through a third party such as PayPal—allows customers to swipe a mobile phone with a special Bling chip added over a point-of-sale scanner and the transaction is complete.
It’s a pretty safe bet many of the larger retail stores will be blinging in no time, especially considering the convenience it could offer. This is building on the easily seen trend of convergence. Most of the products we buy are converging into multifunction devices that will perform the same functions that we used to need multiple devices for.
Our cell phones are a great example. They used to just call people, and we had seperate devices that we would play music and surf the web on. We’ve been able to perform all of those functions on one device for a couple of years now, but this is the next step. Our wallets and credit cards are converging with our cell phones.
Watch the video: How Bling’s pay-by-smartphone system works
Read the full article here: “Customers pay by swiping smartphones, not credit cards”
(USA Today, Dec. 1, 2010; NACS.org)