Mozido LLC, a white-label mobile technology provider, is piloting a person-to-person payment method using Bluetooth Low Energy (BLE) technology, allowing users within proximity of each other to transfer funds with their mobile devices.
The Austin, Texas-based company says the new P2P service could simplify transactions that usually require cash, such as paying delivery drivers and tipping valet attendants.
"Almost everyone has a mobile phone that is always with them, but not everyone has the right amount of cash when they need it," says Mike Love, chief operating officer of Mozido, in a Dec. 19 press release. The P2P service "is a natural extension of Mozido's mobile banking services that allow for easy domestic and international payments using mobile phones, and it leverages our existing patents in the space."
The use of BLE has become popular recently. In September, PayPal unveiled PayPal Beacon, a plug-in device for merchants to detect when a consumer running PayPal's mobile app enters the store.