iBeacon technology could change retail payment options

The new iBeacon technology could change retail payment options.

One of the most talked about mobile commerce payment solution technologies is NFC technology. However, one of the biggest hurdles for widespread adoption has been Apple's reluctance to add a near field communication chip to its popular mobile device product line. It is a feature that has been speculated about for years, but the company has refused to adopt it.

The company has used other applications like PassBook and retailers that are using iPads as a tablet POS system could have a new payment system in place with the use of iBeacon Bluetooth technology. A recent article from Business Insider examined what this could mean for retailers.

Any device with iOS 7 has the capabilities to become an iBeacon transponder or receiver. This means merchants using Apple mobile devices as a payment platform could now have a new way for consumers to make payments.

"Because Apple's iBeacon system is already present on most iPads, each of these devices already deployed in retail outlets for payments purposes can also now be configured as an iBeacon transmitter with the ability to locate and target any and all active iOS devices using Bluetooth LE technology within the boundaries of the shop," the article reads.

For this to work, there would need to be a new mobile application and secure software system in place. Despite this, it does show that the payment industry could now be running, instead of inching, closer to grand change. With the help of a payment solution provider, any organization can start upgrading its cash register.

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