PayPal Beacon is Your Always-On Money Handing Out Tool

By Gary Cutlack on at

PayPal's stuck another clever little location-aware payment option into its smartphone app, with the Beacon tool letting users pay for items without even having to sigh and pull a mobile out of a pocket.

PayPal Beacon requires retailers to install a low-energy USB-powered Bluetooth LE receiver in their stores and attach it to their Point-of-Sale equipment, which has the ability to let app users automatically check-in upon entering a shop. PayPal says users can decide which shops are added to a safe list for unapproved payments and which should require approval, so there shouldn't be any situations involving accidentally buying everyone in the pub several double drinks.

David Marcus, president of PayPal, pulled out his best Steve Jobs impression, saying of the system: "Just walk in a store, and, like magic, when you're ready to pay, money is transferred securely. No wallet. No card. Nothing to do. Not even touching your phone." [Techradar]