Long lines at the register? Don’t accept certain cards? Not to worry, the PayPal Beacon is going to reinvent the in-store shopping experience.
As a leader in the online payments space for a number of years, PayPal is now trying to become a dominate leader in the in-store environment too.
PayPal announced the PayPal Beacon last week, a new technology for merchants that will enable consumers to pay at many of their favorite stores completely hands-free via a Bluetooth low energy device. PayPal believes it will reinvent today’s in-store shopping experience by making it simpler and faster for consumers to make an in-store purchase.
PayPal Beacon opens the door to a fundamentally different way to use technology to make shopping more valuable and more personal for consumers and retailers, said David Marcus, President of PayPal. We challenged ourselves to find a better experience than swiping a credit card. We figured the only better way to pay would be to do nothing. Just walk in a store, and, like magic, when you’re ready to pay, money is transferred securely. No wallet. No card. Nothing to do. Not even touching your phone.
Most consumers are no stranger to using PayPal. Since their first purchase on eBay in the late 90s they were encouraged to use PayPal to complete a transaction. Now, PayPal is a feature on almost every large Australian Retailer’s online store. Many customers would probably prefer to use PayPal over using their credit card because it is designed the make the payment process simpler.
The technology behind Beacon doesn’t require a phone signal, wi-fi, or an additional app download. The device uses Bluetooth Low Energy and can communicate with smartphones securely via the existing PayPal app. Therefore, Beacon means that Retailers do not have to incentivize consumers to download yet another app; the technology automatically expands their customer base without any additional effort.
Currently, PayPal Beacon is compatible with a number of PayPal-ready POS systems, including Booker, Erply, Leaf, Leapset, Micros, NCR, PayPal Here, Revel, ShopKeep, TouchBistro and Vend ” with many more to come. According to PayPal, hardware installation is as easy as plugging the Beacon device into a power outlet in your store.
We will be opening up our mobile in-store API soon for 100 developers to imagine ways to make the shopping experience better, from being able to self-checkout on your mobile phone to automatically placing a customer’s usual order as soon as they walk through the door. PayPal said in a statement accompanying the technology’s announcement. Select developers can get a chance to experiment with PayPal’s API and a developer version of the PayPal Beacon device by submitting their ideas today at www.paypal.com/beacon.
Magento Ecommerce Developers can get a chance to get access to PayPal’s mobile in-store API to create Beacon-enabled shopping experiences for select retailers this year. PayPal Beacon devices will be generally available for merchants to purchase early next year. At that time, consumers will be able to download or update a new version of the PayPal app to take advantage of Beacon-enabled shopping experiences.
PayPal is the faster, safer way to pay and get paid online. The service allows people to send payments without sharing financial information, with the flexibility to pay using their account balances, bank accounts (where available), credit and debit cards in various markets. PayPal is an eBay (Nasdaq: EBAY) company and enables global e-commerce with over 132 million active accounts in 193 markets and 25 currencies around the world. PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore. More information about the company can be found at https://www.paypal.com.