PayPal and Apple Are Working on the Same Mobile Payment Solution

Video: Payment Solutions from PayPal and Apple may overtake NFC-right.

While working on spreading the NFC-based mobile payment in Denmark, other solutions will begin to touch on one of the wings.

Apple and payment company PayPal is starting to work with a couple of solutions that do not require a special NFC chip in your phone, or that it should affect a payment terminal.

The solutions is called respectively PayPal Beacon and iBeacon (Apple).

The advantage of these is that they are Bluetooth-based, and can thus work on virtually all newer phones, which is not the case with the NFC.

The video below feature Jyske Bank has produced. It tells more about the new solution.

Apple and PayPal have not initiated a collaboration, but using just the same technology.