Apple redefined the word “beacon” in June of 2013 when it quietly unveiled a new proximity technology that enabled iOS devices to communicate with each other. It’s been a unending stream of innovation ever since as payments players rush to integrate it into their payments apps. Want to see who’s doing what and where? Check out our Beacon Timeline to get caught up.
In 2013, many companies, including Apple and PayPal, started to test the beacon technology for payments.
When PayPal’s president David Marcus announced the PayPal Beacon on his company’s blog, it was clear that the goal for the technology was to create an easier way to pay.
“No one wakes up in the morning and thinks, ‘I wish someone invented something better than swiping a card to pay. I hate it.’ “We figured the only better way to pay would be to do nothing,” Marcus wrote “Just walk in a store and, like magic, when you’re ready to pay, money is transferred securely.”
Now in 2014, beacon technology can be found at thousands of locations across the country, and more consumers are embracing the idea. But this is just the beginning.
PYMNTS.com invites you to take a look at some of the many accomplishments that have been made just within the last year. It’s clear that with the latest innovations to come, the focus will be on mobile payments.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More