We’re at Google’s developer conference today in San Francisco showing what mobile payments might look like…beyond the swipe.
Leveraging emerging mobile technology such as NFC (Near Field Communications), small businesses and their customers may one day soon be able to conduct a myriad of daily tasks on their mobile devices. From buying a magazine to managing inventory, we’ll do it all on our phones and tablets—including paying and getting paid.
The team here has developed a demo version of GoPayment on the Nexus S, equipped with a number of NFC enabled features to show what this might look like. Check out the video above to see for yourself!
For inventory management, as an example, the video shows how in the near future a small business owner could simply tap their phone against a product with a smart tag at the point-of-sale. All information on that product would then appear in the mobile payment application for easy check out.
The NFC-enabled GoPayment prototype also displays how end-customers could pay for products using a virtual debit card residing on their phone. To complete a purchase, the customer and small business owner would simply touch phones or devices, eliminating the need to swipe a credit card. A big benefit of this kind of payment: no actual credit card information is exposed during the transaction, further protecting the end-customer’s sensitive data.
Customers could use this same process to receive a receipt, or have a copy of the receipt sent automatically via e-mail or text message.
The result is a faster, easier and more secure way to conduct business without the need for a physical credit card or credit card reader. Pretty cool, huh?