Going forward, the future is set to be increasingly cashless. As it stands there are currently several forms of mobile payments which are vying for attention in the mobile payments sphere. What they all have in common is the use of the user's credit cards to actually pay for the purchase. Therefore the battle is firmly of which technology will facilitate the payment of said purchase. While NFC is touted as the definite future it will not be rolled out in large scale anytime soon as there are a lot teething infrastructure issues to resolve. It is with this that a company in the United States, LevelUp, is hoping to fill the temporary space or opportunity.
Reported in TechCrunch, LevelUp is hoping to use QR codes to store the user's credit card information. Thus all the users have to do is to display his QR code which will then be read by the reader at the point of sale which thus completes the payment. The best part of this service is that is totally credit card-agnostic. They are allowing users to download a beta API which will allow individual companies to tailor the software to be used on their own point of sale system. Furthermore, LevelUp has peered into the mobile payment crystal ball and designed their upcoming payment kiosk to be compatible with NFC. Therefore, they are prepping themselves to be a platform agnostic system which can be adopted by all vendors looking to include a mobile payment options in their suite.
If you would like to learn more about how the mobile payments industry is set to transform in the near future, join us at Cards & Payments Asia 2012 in Singapore from 25 -27 April. Download our brochure to find out more about the programme and register online to secure your seat.
See you this April!