Bitcoin Versus iBeacon, Apple's Up And Coming Payment System Infrastructure
Apple has been silently promoting their iBeacon technology and recently debuted it in their own stores. This past Friday: December 6th, 2013 Apple launched iBeacon within its 254 U. S. stores. iBeacon takes advantage of Low Energy (LE) Bluetooth, which Apple has silently put into all of its products since the iPhone 4s and iPad 3rd gen. Essentially, any device that can run iOS7 can be directly used as a LE Bluetooth device and function as a transmitter and receiver: be an iBeacon. TechCrunch's article on the iBeacon calls Apple's marketing of the iBeacon an "Open Secret," and Wired goes on....
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Apple's new product, iBeacon, is a technology that could change the way people interact in its retail stores. Furthermore, iBeacon could potentially revolutionise how we pay for items: putting the tech giant squarely at the centre of the mobile payments industry. iBeacon is a software and hardware combination that Apple has deployed in all of its 254 US stores. The software uses a brand of Bluetooth wireless networking, called Bluetooth Low Energy, to pinpoint compatible devices nearby. It communicates with customers' iPhones and iPads to work out exactly where they are in the store,....
Apple released a device update weeks ago that made large improvements on existing iBeacon technology. The update allows devices to search for existing beacons without the application being open on the device, while also enabling nearly all iOS7 devices to send and receive beacon signals. This means that retailers can send messages to customers, accept touchless payment and gain valuable customer information, all without dedicated hardware. There is little question that Apple has plans to dominate mobile commerce, but did they make a mistake by outlawing digital payment systems like....
Apple Pay has been touted as one of the most innovative ways to pay with a mobile device. Whether or not that will be the case, remains to be seen. But ever since Apple Pay launched in the United Kingdom, it is causing issues with the London Underground. Using Apple Pay will put the user at risk of being overcharged for their journey, which not exactly how this system is supposed to work. Mobile payments are on the rise, and manufacturers and payment processors are scrambling to cobble together a mobile payment solution for the entire world to use. But even tech giants such as Apple, who....
Apple said in January that 2015 would be “the year of Apple Pay.” A recent Reuters report suggests otherwise, however. According to an interview with retailers, as the payment system is approaching the end of its first year, many don’t see the demand for the platform. Apple’s contactless payment system has gained some traction with financial institutions and merchants, although according to the recent survey the percentage of acceptance is small. Reuters surveyed 98% of retailers from the National Retail Federation’s list of the top 100 U.S retailers. Less than a quarter accept Apple Pay,....
Following Apple Pay’s much-hyped payment system’s launch and lukewarm reception across many markets, the platform’s release last week in the United Kingdom has already encountered some problems with a double-spend issue being the most notable. Apple Pay can cause an economic misfire with users of the ever popular public transportation service, the Transport for London, under certain circumstances. This has happened often enough to cause an official alert to be disseminated from the iconic transit system regarding the use of this new form of payment. The problem is when a payment is made....