Beaconyx Inc. of Korea debuts the Bluetooth Low-energy radio-based Beacon two-way mobile payment system at World IT Show that runs through May 20 in Seoul.
Coming built with Bluetooth Low Energy, or BLE radio chip, the Beacon mobile payment system is a stranger to today’s two mainstream one-way mobile payment systems Samsung Pay and Apple Pay that just only allow user to clear their bills.
On the contrary, the Beacon system is interactive, enabling users to get back their bill transaction receipts and bill details immediately after they pay the bill with their Beacon mobile payment system, the BLE allows their smart phones and a tiny Beacon system to communicate with each in two ways. The tiny Beacon works in sync with merchants’ POS system, or credit card readers plugging into USB ports, or USB cables. The USB port or cable also can be sued to lend power from the POS or other card reader machines to charge the Beacon.
Beaconyx
World IT Show 2016
The interactive service allows users to get back digital gift coupons on their smart phones.
The system is secure, too, as it has a built-in BLE block protecting algorithm.
Here is the way how the Beacon system allows users to pay their bill with it and download bill receipts. The first thing users have to do is to download the service app on their smart phones and then register their credit cards on their phones. Then, they activate their mobile payment apps and bring their phones near the Beacon to make a transaction typing in their password.
The Beacon has a backward compatibility with current card reader infrastructure, but merchants or POS terminal operators should shoulder the extra costs of purchasing the Beacon system
The company is in talks with several card issuing banks, or credit card service operators to have the Beacon system approved.
Beaconyx
World IT Show 2016
Beaconyx
World IT Show 2016
Beaconyx
World IT Show 2016
Beaconyx
World IT Show 2016