Slideshow 7 New Mobile Technologies That Stand to Shake Up Payments

Published
  • September 13 2013, 2:35pm EDT
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There has been an avalanche of new mobile technology in just the past few weeks. The iPhone 5s, Samsung Galaxy Gear and Google Moto X bring with them a wide range of new systems for payments — and companies like PayPal and Fiserv are making noise with new products of their own. (Image: ShutterStock)

PayPal Beacon

PayPal's newest product, Beacon, is designed to make mobile payments a hands-free process. PayPal's app can detect a Bluetooth signal coming from the Beacon device to automatically alert the merchant of a shopper's presence, and the shopper can complete a purchase without touching the PayPal app. (Image: PayPal)

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Google/Motorola Skip

The first handset Motorola developed under Google ownership makes heavy use of Near Field Communication. The Moto X smartphone comes with an NFC clip called "Skip" and a few NFC stickers used to unlock the phone without typing a PIN. Although it does not support the NFC-based Google Wallet on most carriers, the handset will familiarize users with the technology. (Image: Bloomberg News)

Samsung Galaxy Gear

Samsung's Galaxy Gear smartwatch will support 70 apps when it launches, including a mobile commerce app from eBay. The watch also has NFC, which presents opportunities for other payments applications. (Image: Bloomberg News)

Apple iBeacon and Fingerprint Reader

Apple's iBeacon uses the same underlying Bluetooth technology as PayPal's Beacon, and some predict the wireless iPhone technology could serve many of the same functions as NFC. At the same time, Apple is making biometric fingerprint recognition an option for authorizing purchases of digital content on its newly unveiled iPhone 5s. (Image: Bloomberg News)

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Disney MagicBand

Walt Disney World is performing a yearlong test of a wristband payment system, MagicBand, that ties into the theme park's mobile app. Similar products have seen poor adoption in other settings, but Disney's hefty marketing and technology commitment to the product may produce a more favorable result.

Google Glashion

A newly developed Google Glass app, Glashion, allows Google's high-tech eyewear to initiate purchases of products the user photographs with the mobile device's lens. (Image: Google)

Fiserv's Fast-Paced P2P

Mobile person-to-person payments are about to get a lot faster. Fiserv is planning to expand its Popmoney Instant Payments service to mobile devices in November — just as its bank partners are expanding the standard Popmoney to more of their mobile customers. (Image: ShutterStock)