Proximity Payments Technology: Save Your Customers Time & Money with mBeaconPay

Netclearance is always striving to stay in front of the pack, and in the field of mobile pay solutions this means faster, safer, and cheaper technology. Introducing the latest in proximity payments technology - mBeaconPay.

What is mBeaconPay? This new mobile payment system is the complete package; using a "smart beacon" device, it allows for secure, fast mobile payments. This beacon is the bridge between consumer, mobile application, point of sale, and the bank network.

So why should you be interested in this new technology? After all, many banks and large companies have already developed their own personal payment systems. Well, with mBeaconPay you can:

  • Create your own private mobile payment network. This is separate from other card networks or handset manufacturers, which means that you (the retailer or bank) can collect user payment data.
  • Ensure higher security. This system is more secure than existing networks because there is no card data to be exchanged at the point of sale.
  • Implement personalized mobile payment solutions. Without having to fit to a pre-existing payment model, you can create your own customer loyalty programs, mobile coupons, and personalized deals.
  • Decrease transaction time. mBeaconPay is faster than pre-existing systems or card transactions because the entire process is a few simple swipes. Check it out for yourself!

While a huge benefit of this system is that it can allow card-less transactions, mBeaconPay is flexible in that it can still function with existing card networks. This means that every customer with a smartphone (mBeaconPay works with ALL mobile operating systems) can access this technology - allowing businesses to tap even unbanked and underbanked populations.

However, perhaps the biggest benefit of this system is its financial efficiency. So, how exactly can mBeaconPay save you money?

  • There are low or zero interchange rate fees, compared to existing systems.
  • Eliminates the need to pay card network fees.
  • Creates a new revenue stream by bypassing existing networks.
  • The system interfaces through a standard USB connector, so no costly equipment upgrades.
  • The mBeaconPay hardware is up to 50% less expensive than existing payment terminals.

For more information on the mBeaconPay system, or how you can integrate this technology with other systems such as proximity offline analytics, please feel free to contact us.