Can Beacons Enable Payments Or Not?

Bluetooth low energy-based beacons indeed mark the future of customer engagement. These low-power devices have been witnessing a large scale adoption in proximity marketing solutions where merchants are putting up beacons to send offers, promotions, coupons, etc. in the form of proximity messages. But stakeholders are looking beyond the proximity marketing aspect and want to leverage these BLE beacons to enable proximity payments.

There are certain reasons behind the optimism for beacon-based payment experience:

Firstly, the BLE beacon does not require the customer to learn any new habits. Since this is a passive (not user-initiated) experience, the early implementations maximize the benefits of this push model without compro ...

To continue reading, sign up for MEDICI Inner Circle and get free access for 7 days.
100,000+ FinTech professionals trust MEDICI Inner Circle to stay up to date on the latest in financial services.