It seems that every year tech companies are producing innovative devices that have the potential to change how we live our lives. In 2012, Google announced a revolutionary product called Google Glass marking this company’s first foray into wearable technologies. In early 2013, Google Glass was released to 8,000 developers for them to create innovative apps with a predicted release to consumers in late 2013. As a result, uses by different industries are being dreamt of including those for payment processing.
This device has the potential to completely revolutionize the way merchants take and process payments from their customers. Already its been found Google Glass is better able to read QR codes when used for payment processingcompared to smartphones. This makes it possible for Point of Sale (POS) devices to display a QR code for customers who are wearing Google Glass to simply look at causing their purchase to be processed immediately and effortlessly.
When purchases are made with smartphones, the screen is usually facing away from the customer and they are not able to immediately know if there was an issue in processing their payment. With Google Glass, the customer knows right away if the payment was processed or if an error was encountered. With such a seamless user experience, it gives merchants the ability to process customers quicker allowing for more sales leading to additional revenue.
However, QR codes are not the only way to enable a purchase to be made by a customer at your business. Much like current smartphones, check ins will be allowed which will give merchants the ability to seamlessly sync a merchant’s payment processing network with a customer’s financial information. Some companies are even working on the ability for Google Glass’s built in microphone to pick up on sound waves to determine a user’s location.
Even though Google Glass hasn’t been officially released to the masses it already is drumming up a lot of interest. It also has the potentially to upend the way consumers and merchants give and take payments.