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Wearable Technologies in the Enterprise - Why Would Your Organization Not Use Them?

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Wearable technologies in the enterprise are technological solutions that make good sense, period.  For instance, why not have a smart badge that could let your team leads know exactly where your employees are?  Suppose there is an emergency?  Suppose you need help within minutes or even seconds in some type of crisis situation?  Would you not want to know exactly who might be nearby to help?

There are any number of given scenarios where a smart badge would be a great help.  It would also be great to have a smart badge simply to park with a piece of expensive equipment, letting you know at all times where in the plant that equipment is.  

Of course, there's a great deal to be noted about the efficiency improvements that can come about by the use of wearable technologies in the enterprise, like smart badges.  "Frederick Taylor would have loved to have been able to monitor the efficiency of workers with wearable sensors. Tesco uses armbands to track how workers are transporting goods in their warehouse. Employees like it because it saves them from having to carry and fill out clipboards of paperwork," according to an article by Jonathan Duffy titled Wearable tech gives businesses a competitive edge.  

Of course your work crew are trustworthy folk, but visitors and vendors maybe not so much.  A smart badge would be a good thing if there are very sensitive corporate assets or systems that could be breached by unauthorized persons who try make their way into areas they clearly don't belong.  Better to keep a closer watch using the additional safety of a smart badge that can track them within meters anywhere indoors.

Smart Badge Technologies in the Enterprise Work to Improve Businesses

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Wearable technologies in the enterprise serve to improve business processes in many effective and creative ways. A simple badge the size of a credit card recently released by Netclearance serves as an excellent paradigm. Though the initial reaction to the term ' wearable technology' may lead some to imaginative conclusions, the technology is real and ground-breaking. With ever evolving advantages to enterprise, from their bottom-lines to the efficiency of their operations, wearable technology is proving its value everyday in the business world.

What may appear as a simple badge that identifies the wearer, upon further examination reveals a highly complex communication device. Embedded in the badge's, or mBeaconCard, manufacture is a Near Field Communication module and a Bluetooth Low Energy radio. Though an observer may see just a picture and wording, the badge is actually a transmission tool sending data packets to Netclearance's mBeaconGW, or IoT gateway. 

More than just being able to track an employee's movement and location within several feet, the badge finds use in tracking goods as they travel through a facility. Security and timing underscore this function. Knowing where goods and individuals are in the enterprise's facility is always an important concern.

As a convenience, an individual can use the badge to buy goods. 

The BLE also interfaces with, as reported by IOT Journal, "Netclearance's mCloud Content Management System software [and] is used to collect and manage the data transmitted by the badge, and from there it can be sent to Netclearance's business application or analytics software." This clearly indicates that the badge belongs to an integrated system with the potential to update and analyze facts as they change real-time. This also includes third-party applications and analytical platforms.

With an eye on the need to adjust in the facility's environment, smartphone communication is possible with the proper software.  With the NFC reader capabilities, the technology finds utility at the room-level for tracking in large facilities. 

The capabilities continue to expand. Already Netclearance offers a vibration sensor and magnetic sensor using an embedded accelerometer. This technology employs trigger tracking. As the name suggest, a motion or contact event must occur before the badge triggers the software or application systems by transmitting the required data.

Banks can leapfrog third-party mobile wallets with their own solutions

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Technology is changing the world, day by day. And with each day, its reach broadens -- now, the smart phone has been introduced to two-thirds of American adults. And with those smartphones, the world of technology is reaching into an enormously consequential domain: finance. The flow of money across the globe, between individuals, institutions and vendors is incredibly lucrative for many, but there is an upstart in the traditional models of payment. Now, instead of swiping a credit card when paying for something, customers can use mobile wallets instead.

A mobile wallet, even though linked to a bank account, often is administrated by an outside source -- for example, Apple Pay. A customer paying with Apple Pay will draw money from their bank account, but use an app on their phone at the register. The upside to this is that customers no longer have to lug around all of their credit or debit cards; the downside, for financial institutions at least, is that companies that create and administrate these apps (like Apple, Google, et al.) charge fees to the banks.

Thus, banks are at a huge disadvantage -- and with the growth of mobile wallets, they stand to lose even more. If banks do not act to catch up to third-party mobile wallets, they stand to lose out on the important stream of money across the globe. However, some banks are slowly working on developing competing mobile wallets -- but they may not work, or may come to late.

For the financial institutions that are really aware of the importance of mobile wallets (like Danske Bank's MobilePay), they are taking advantage of turnkey solutions -- easily implementable systems that can help them make up ground and maintain their bottom line. Danske Bank, a leader in the field with 30,000 merchants across Scandinavia, has opted to use a solution called mBeaconPay by Netclearance. And it's working: the mobile wallet is among the top three mobile apps in the region.

So the question is really whether banks want to invest in their own success. If they use turnkey solutions like that offered by Netclearance, they stand to make up ground against third-party mobile wallets. If not, they have a long road ahead of them.

Branded mobile wallets help retailers boost customer loyalty

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Although the Uber moment for banks arrived last year, there is still time for them to create new revenue streams, or face the consequences of not doing so.  Decreasing revenue and increasing costs are forcing banks, including big names such as Bank of America and BNY, to lay off employees and automate functions. This tactic of slashing costs can be helpful up to a point, but what about exploiting new markets and technologies to create business and healthier balance sheets?

The mobile payments space is full of competition, with upstarts like Square and titans like Google and Apple all vying for a slice of the market. However, it still presents growth opportunities for banks. Customers want an app that allows them easy access to products they like, which Apple, Google, and Square have all failed to deliver.

On the other hand, Starbucks has enjoyed the rewards that come with their successful mobile payment and reward application. By building a product that works for both their customers and for the company, they have seen enormous success, with 21% of all Starbucks transactions involving their loyalty program. Their loyalty program is easy to use, and encourages spending, meaning those on both sides of the exchange leave happy.

How can banks create an equally tangible and profitable product? Banks have access to huge, proprietary data about their customers’ spending habits, which some have begun using to offer customers more personalized experiences and recommendations. When combined with partnerships with outside retailers and firms, this data could be used to drive spending and create customer satisfaction on a larger scale than the loyalty program for a single company.

Of course, banks are not technology companies by nature, and it requires a huge amount of work to bring a viable and useful product to market. Netclearance Systems Inc can help, with its existing technologies and experience in the fast-growing space of mobile payments. Its services, such as mBeaconPay, can help ensure client satisfaction with mobile banking apps by refining existing recommendation technologies. In doing so, Netclearance can contribute to client retention and creation.

Banking's 'Uber Moment': Keeping Up in the Era of Fintech

Financial technology is proving to be a significant disrupter in the financial sector. Similar to how Uber completely transformed the taxi industry, financial startups will have a real impact on the banking industry in the next few years.

In fact, such effects have already begun to take place. The Financial Times estimates that around 100,000 banking jobs were cut in 2015, including those from HSBC, Morgan Stanley, and Credit Suisse.

Banks must now compete on technology in order to stay relevant. According to a 2015 survey by software firm Temenos, 27% of senior bankers reported tech companies as the greatest threat to their business.

As mobile phone Internet use is becoming increasingly popular, mobile wallets are quickly becoming more utilized by consumers. Banks looking for new revenue streams should strongly consider building their own mobile wallets in order to compete with technology like Apple Pay and Google Wallets.

Companies looking to build their own mobile wallets can do so using mBeaconPay, a new mobile payment device that enables banks to both acquire new merchants and offer payment-processing services without going through credit card networks or the walled  gardens of Apple or Google.

Using proprietary Smart Beacon Technology, mBeaconPay conveniently supports all wireless proximity technologies like BLE, NFC, QR, and Wi-Fi in a single unit and seamlessly integrates with all point of sale systems.

The mBeaconPay was recently nominated for Best Cash Innovation Award by PYMNTS.com.

Financial startups are quickly changing the banking landscape, and the industry must adapt in order to keep up with these new technological advances. For more information on how companies can build their own mobile wallets using mBeaconPay, contact us.

Branded Mobile Wallets Help Banks Retain Their Customers’ Loyalty

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According to Pew Research Center, two-thirds of Americans now own smart phones. For 7% of Americans, that is the only way they access the Internet outside of work. And it's more true of younger adults, 15% of them, than for the older population, who use personal computers or laptops.

Therefore, it's only logical that major brands want smart phone users to use their mobile wallets. Starbucks is the clear winner and model for success that other companies wish to emulate. This article in Mobile Payments Today wonders whether discount stores such as Wal-Mart, Target and Kohl's can achieve the same success.

Starbucks launched its mobile wallet in late 2012, and now processes 21% of their orders through it. 16 million customers use it.

According to Financial Brand technology companies such as Google and Samsung want a piece of this huge market as well.

And banks and credit unions are not ready to yield the financial services sector either, especially since they are rolling out ATMs that use mobile phones instead of plastic cards to make transactions.

However, for consumer companies, using a tech company's mobile payment solution is not optimal. Wal-Mart wants its customers loyal to Wal-Mart Pay, not Apple Pay or Android Pay. Nor do they want customers to think of Bank of America or their local credit union.

Just settling up the branded mobile wallet app on their phone engages the customer with the brand name. Decades of advertising and marketing experience has proven the more consumers think or interact with a brand, the more loyal they become to it. It's the principle of consistency. After installing the Wal-Mart mobile wallet on their phone they're more likely to go there than to Target on their next shopping trip.

15% of American consumers used a mobile wallet in the last half of 2015. 22% expect to do so in the first half of 2016. Obviously, this market cannot be ignored.

The consumer brands have one advantage the banks and tech companies can't match. Like Starbucks, they can attach a loyalty rewards program to reward them for shopping at that store and for using the mobile wallet. Therefore, they can feel virtuous for saving money in the future.

It's also likely that in the future consumer brands will partner with technology companies and banks, as Starbucks has done with Chase Pay, because some consumers may prefer to use one wallet to handle all their payments.

Netclearance Systems Inc offers turnkey wireless sensor and mBeaconPay technologies that enable both merchants and banks to bring out their own mobile wallets for their customers. Because mobile wallets do help retain customer loyalty, consumer businesses and banks need to offer their own branded options before their customers begin using Google's Android Pay or Apple Pay.

Three Ways LoT - Location of Things Can Benefit Hospitality Providers

Resorts and hotels have many moving parts – guests checking in and out, bags being moved, and food getting served. Every hour of every day, guests are in their rooms, or lounging in the resort spa, restaurant, bar, or poolside. There are many ways that premiere resorts can benefit by implementing LoT - Location of Things technology into their services.

  • LoT - Location of Things Systems Help Guests: The grounds of your resort are foreign to many of your guests. Unless they have been there before, many guests may feel overwhelmed by the size and scope of a high-end resort. LoT systems can help guests navigate resort grounds without ever feeling lost. LoT systems can help guests plan their day better by telling them how far the spa is from their room, as well as things like how many guests are currently at the spa and if there is a wait time. 
  • LoT - Location of Things Systems Help Staff Stay Productive: LoT systems are helpful in assisting staff with locating rooms and areas of the resort that require their attention without delay. With Location of Things technology staff can even locate specific guests anywhere on the grounds with ease. LoT systems support orderly rest and meal breaks, as well as effortless clocking in and out.
  • LoT - Location of Things Systems Make Guest Services Seamless: Guests can order services to meet them in their room, poolside, in the lounge or spa or wherever they are on the resort grounds. If they need help figuring out if they have time to visit the pool before dinner, they can map how long it will take them to get from their room to the pool and from the pool to the dining hall. If guests need help, they can quickly call for the nearest staff member with the push of a button or look on a map to see where the closest staff members are near them.

Other hotels have already implemented Location of Things systems to assist with personnel and guest monitoring. Netclearance is the premiere provider of solutions and information for implementing LoT - Location of Things systems into your resort's offerings.

Effective wallet strategies give financial institutions an edge in a mobile centric world

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Financial Institutions' Mobile Wallet Strategies are becoming a top concern as banking is more frequently completed via mobile wallets. According to an article on PaymentsSource.com, 2.6 billion people in the world now own smartphones, and by 2020 that number is likely to jump to 6.1 billion, or 70 percent of the world's population. Further, it is now estimated that 69 percent of mobile users conduct their banking via their mobile device, or "mobile wallet."

Pymnts.com reports that, according to a study by Javelin, in 2014 most people who conducted banking via their mobile wallets did so using their financial institutions' mobile banking app. However, in 2015, this trend changed, and PayPal and Visa apps surpassed financial institution apps as the preferred mobile wallet providers. This new trend tends to leave financial institutions "out of the loop" when it comes to mobile wallet transactions. Further, rather than developing their own mobile wallet-friendly apps, they are relying on third parties such as Apple Pay and Android Pay.

So how can financial institutions step up their game? First, they will have to modify their perception of customer service to pertain to mobile interaction, placing less emphasis on factors like bank location and face-to-face interaction and more emphasis on factors like app development. Second, according to an article in Mobile Payments Today, financial institutions should develop "stepping-stones" toward the mobile scene, such as cardless ATMs. Finally, according to the same article, financial institutions should implement customer value and loyalty programs for customers who use their apps. 

Netclearance offers products, a plan, and the technology that is synonymous with the mobile wallet. As consumers choose to pay daily using their cell phones at various merchant locations, it is time for financial institutions to extend their arm of influence and corner this market. Facilitated by mBeaconPay technology, Netclearance eliminates the middle man so common in these transactions and offers a streamlined system between only the customer, the merchant, and the bank. 

 

 

How to Develop an Effective Mobile Loyalty Program with Smart Beacons

So you have decided to jump at the idea of starting a mobile loyalty program for your business, now what?  What are the next steps you should take?  How will you go about creating your program?  We shall provide answers to these questions for you now.

 

Come Up With a Plan

First answer the question, "will it be geared toward individual consumers or businesses?  This is an important factor to ponder.  You will need to tailor your program to the type of clients you are aiming to attract.  It is possible to cater to both, individuals AND businesses.  In that case, you would likely want to develop two separate programs to accommodate the specific needs of each type of patron.

 

What Features Will You Include?

It is important for you to plan what features you want to include in your loyalty program.  For instance, will repeat customers earn points toward their reward?  Do you have another plan in mind for how they go about accumulating credits for their purchases? 

After you decide this, you must figure out what form the reward itself will take.  Will it be a deeply discounted item or a free one?  Will there be a monetary limit to what that offer can be applied to?  Will there be any kind of limit on how often rewards can be redeemed?  These are all necessary features to decide upon before you hire somebody to develop your program.

 

Sound Advice for Creating Your Program

First, it is advisable to make a list of everything you want to include in your loyalty program.  This will be the basis of the program so do not leave anything out, write down all details.

The most critical aspect of this whole loyalty thing is to hire the right company to design your program.  Netclearance can guide you every step of the way.  With smart beacon loyalty solutions like Bounty you want to ensure you keep customers returning to your business.

The API-fication of Payments in Retail Leads to Smart & Frictionless Transactions

Application Programming Interface (API) technology is the wave of the future, changing the way businesses around the world develop software for various applications. There is one area, however, where API is not being widely utilized. At Netclearance, we provide our clients with APIs for retail payments, offering solutions that are revolutionizing mobile payments in the offline world.

What is API technology?

API refers to a series of routines, protocols, and tools that are used for building software applications. These applications are utilized for a variety of different purposes, such as web streaming and networking. However, API for payments is pretty rare in the offline world, indicating an area of untapped potential. With the API-based approach for payments in the brick-and-mortar world developed by Netclearance, we help our clients tap into that potential.

How API for Payments Works

Today's offline multiparty model for payments is extremely involved, incorporating consumers, different categories of banks, merchants, merchant processors, card networks, and much more. This excessive amount of parties makes for a convoluted and fee heavy system. The online multiparty model for payments is slightly better, involving more streamlined communication between the different parties. However, we think a more streamlined method is possible in the offline world.

Here at Netclearance, we promote a more streamlined three-party model without middle-men, involving just the merchant, the consumer, and the bank, facilitated by our mBeaconPay technology. mBeaconPay allows for the use of mobile devices for cashless transactions at the POS. While many other companies offer mobile solutions, they are simply disguised versions of the excessively complicated multiparty and card-centric solution. Only with Netclearance you will find such an innovative API-based approach for payments without the fees and risks associated with credit card based systems.

When you go with Netclearance's smart payment terminals and APIs, you will be able to take your exisitng POS to the next level with API for payments that allows for cashless, fast and secure mobile transactions. Contact us today to find out more about how we can help you implement your own mobile wallet fast and easy without the hassle of PCI, HCE or any other legacy compliance.

Nordic Countries Becoming Cashless Societies?

Denmark and Sweden are on the way to becoming Cashless Societies in coming years. In another post this blog addressed recent news in Denmark, where they are considering legislation that would allow select benefits to refuse cash payments.

Now, Sweden has taken another step to make cash less of a necessity and more of a burden. Their banks are making it harder for Swedes to hold onto cash. 

The Sverige Riksbank, Sweden's central bank, recently decided to keep its benchmark interest rate at -0.35%. The banks they lend to actually lose out by holding onto the money. Retail banks have not yet imposed negative interest rates, but they might. The cost of that negative interest lending has to be soaked up or passed on to businesses and individuals. 

Swedish retail banks are encouraging people to move away from cash in other ways. Swedish banks have also started to remove cash ATMs in rural areas. If people aren't using much cash, they must not need the ATMs. This move roughly corresponds with a drop in the amount of cash in circulation. 

A Business Insider article reports that the value of paper Kronor in circulation has dropped, from about 100 billion in 2009 to around 80 billion in 2014.

In a relatively cash-free Sweden citizens will have to either spend money or let the bank take it, in the form of negative interest. They'll likely spend their money, electronically, spurring economic growth. 

In short, Sweden is using less and less cash in an environment. Negative interest rates are a reality for banks and a real possibility for businesses and individuals.

Making the Shift to a Cashless Society

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According to an article from PYMNTS.com, Denmark is the next country making the transition toward a cashless society. During the transition, retail locations such as restaurants and clothing stores will have the option to refuse any sort of cash payment, while supermarkets and post offices will still continue to accept cash. 

Denmark is only a recent example of a global trend toward abolishing physical currency. Other countries that already have begun shifting toward cashless alternatives include Sweden and Canada.

What are the benefits of a cashless society?

Cashless alternatives to payment make transactions more quick and efficient. Through the use of participating devices, such as smartphones, funds can be transferred instantaneously, streamlining the payment process. Any individual's payment information is linked directly to their device, eliminating the need for pocketfuls of cash, credit cards, and debit cards. A cashless society also means that money no longer has to be printed, saving valuable resources, such as the paper, chemicals, and metals that go into the production of physical currency.

Businesses can also benefit from cashless societies. Cash places a heavy administrative burden on retail locations, which can save time and money through the switch to cashless alternatives.

How can Netclearance help your business go cashless?

At Netclearance, we are proud to provide our clients with mobile payments technology solutions. Danske Bank MobilePay POS, which is spearheading Denmark's transition to a cashless society, is powered by our very own mBeaconPay technology, which works with and operates on a wide variety of POS and smartphones, allowing customers and retailers to exchange payment information in a quick and efficient manner.

It's never too late to take advantage of the worldwide trend toward cashless societies. Contact us today to help your business transition to cashless mobile payments.

Reduce Fraud and Card Skimming with Headless ATMs

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As the worldwide economy makes the gradual shift toward cashless alternatives of payment, the payment technologies we use change, as well. One of the newest innovations in payment technology is called the headless ATM and is a tool designed to prevent fraud and crime while providing for the effective transfer of payment information.

What is a headless ATM, and how does it work?

Headless ATMs are the newest innovation in payment technology, tailored to work with the proximity payment software solutions that are beginning to dominate the world economy. While most modern ATMs rely on payments in the form of cash and credit cards and debit cards, headless ATMs accept payment from alternative devices, such as smartphones and smartwatches. Using Bluetooth technology, headless ATMs are capable of establishing connections with participating devices, which transfer payment information through specialized apps.

According to a recent article from News Hour, smartphones are fast replacing credit and debit cards, as banks around the world are continually opting in favor of the new technology. The article cites benefits such as reduced security risk and ease of use as reasons that banks are making the shift toward headless ATM technology.

Netclearance's mBeaconPay

At Netclearance, we specialize in technology solutions that are specially crafted to work with headless ATMs. Our mBeaconPay hardware and software works with ATMs, smartphones, and smartwatches in a seamless manner that cooperates with existing software, making it easy to use and implement. We partner with banks around the world to help them make the shift toward alternative payment and cash withdrawal methods that are revolutionizing monetary transactions. Contact us today to learn how we can help make the shift toward headless ATMs.

Netclearance at Retail Business Technology Expo 2016

Netclearance at Retail Business Technology Expo 2016

 

On March 9th, we will be attending the annual Retail Business Technology Expo at the Olympia in London. The event is a great place for retailers from all areas of the industry to come and learn about all the latest tech and services that can help them to increase productivity, reduce costs and improve the customer experience. It is the ideal place to keep up to date with all the latest solutions, tools and tactics.

 

We will be showcasing our mBeaconPay technology and our CEO David Fernandez will also be hosting a speaking session, ‘Creating a cashless society – disruptive technology for the retail payments sector’ at 13:15 on 9th March in the Payments Theatre.

 

During the speaker session, David will share his insights into the roll-out of the mobile payments system that has revolutionised payments in major supermarkets and fast food outlets in Denmark and Norway. He will also discuss how the highly disruptive technology takes transactions direct from bank to retailer, not only changing the value chain by removing merchant fees, acquirers and PSPs from the fee structure, but also enhances security as there is less chance of fraud or error.

 

We will also be exhibiting our complete range of proximity beacon technology, including BLE, WiFi and RFID sensors, for proximity marketing, real-time tracking, customer engagement and Business Intelligence on stand 124. We will demonstrate how beacons for mobile payments and proximity marketing for retailers, banks and merchants can be combined and used for coupons and loyalty schemes.

 For more information or to arrange an interview with David Fernandez, CEO of Netclearance contact Bright Bee PR: Netclearance@brightbee.co.uk or on 020 8819 3170.

New Payment Technology Helps Banks Catch up with Third-Party Mobile Wallets

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When consumers prepare to pay for purchases these days, a growing number of them are whipping out their phones instead of their wallets. Mobile payment apps have added a new and convenient way for people to pay for goods and services. As these digital wallets gain market traction, banks could find themselves in trouble. Conventional ways of payment -- and the revenue that they produce for banks -- are falling by the wayside. 

When consumers pay by swiping a payment card, banks make money through the fees that are attached to each transaction. Transactions completed through mobile payment services such as Venmo, Apple Pay, and Samsung Pay are now eating into that bank revenue. There are more players entering the space.According to Bloomberg News, Walmart, Starbucks and even Chevron gas stations are working on plans for their own digital wallets. Banks know that the days of debit and credit cards being the preferred method of payment are numbered. “We see a day when customers are leaving their home without their card,” Jonathan Velline, head of ATM and store strategy at Wells Fargo, told Bloomberg.

Some banks are taking steps to compete with their own digital wallets. Capital One has introduced a digital wallet, Bloomberg notes. JP Morgan Chase is preparing to launch one soon. While they may be late to the game, they may be able to reach a broader set of consumers. The digital wallets offered by Apple and Samsung work with Apple and Samsung technology respectively. Banks could offer the advantage of being able to work with any smart device, regardless of its maker. 

You don’t have to wait for U.S. banks to implement mobile wallets to see the technology in action. European banks are already early adopters of such technology. Denmark-based Danske Bank, for example, uses mobile payment hardware and software developed by Netclearance. The software, called mBeaconPay, works on all smartphones. The technology enables banks to offer consumers their own digital wallet solution without being tied to a specific mobile device maker. Danske Bank has deployed mBeaconPay-enabled mobile wallets to more than 30,000 merchants across Scandinavia, where it has quickly established itself as one of the top five mobile apps in the region. 

Banks, like any business, count on new customers to grow. The problem for banks is that millennials who could become their new customers are deciding against conventional banking and choosing instead to bank through the growing number of mobile payment services. If banks want a fighting chance to catch up with third-party mobile wallets, they’ll need a digital payment technology to do it. Contact us to learn more about how mBeaconPay is helping banks deploy their own mobile wallets.

Revolutionizing Proximity Payments Technology

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Over the past few decades, we have seen society's preferred mode of payment shift from physical currency to debit cards and credit cards. As time goes on, other forms of payment have emerged, and are poised to take over as our new preferred method of payment. Proximity payments technology is but one of these technologies, and consists of the use of smartphones in order to transfer funds between businesses and customers in exchange for products and services, transcending industries and finding more nuanced uses every day. According to eMarketer.com, proximity payments in the United States handled $8.7 billion in transactions for the year 2015. For 2016, experts expect this number to climb as high as $27 billion. If this trend continues, this means that this technology will be the main method of financial transaction by 2019.

How Does Proximity Payment Work?

Proximity payment technology consists of an exchange between a smartphone and another compatible device via Bluetooth technology, where the smartphone acts similarly to a debit or credit card, connected to a customer's bank account. Of course, this means that both devices in a proximity payment exchange need to have Bluetooth capabilities, but as time goes on, more and more devices are becoming Bluetooth compatible.

Netclearance vs. Other Proximity Payment Technologies

As proximity payment technologies have become more popular, many companies have tried to jump on this trend, each with varying degrees of success. Examples include Android Pay, ApplePay, and Samsung Pay. While each of these technologies are innovative, they all have their own issues that impede ease of access, including:

  • Usable only on phones they manufacture (walled garden effect)
  • Credit card based systems
  • User data shared with Google and other sites
  • No options for customization
  • Added fees

With our mBeaconPay technology at Netclearance, we want to help our users break away from these constricting qualifications, offering freedom through features such as:

  • Phone agnostic (supports all smartphones regardless of make and model)
  • App-based
  • User data shared only with relevant banks and retailers
  • No or low transaction fees
  • Customizable (white-label)

With such a stark contrast, it's clear why mBeaconPay available here at Netclearance is more effective than its competitors. Contact us today to find out more!