Digimo Puts An End To The QR Code Payments Problem

QR CODE- Can you read it?The ubiquitous QR code has finally found its calling in mobile payments. Anyone at any store can quickly pay with a smartphone and the Digimo application. Now that NFC has been out for so long, and pushed by such big players as Google and Visa, what happened? The answer is hardware. The NFC ( Near Field Communication ) requires a special chip inside the smartphone and another on the seller's side to work. The Digimo solution does not need any of that.

Simplicity is the key to making a mobile payment work. The people who figured this mobile payments system out knew that. Those who want to use the Digimo system to buy things with their smartphone will load up their payment information on the Digimo server. This is a "cloud" setup that is supposed to be secure enough for bank account information. Then, Digimo issues a scannable card to the merchants who want to take part in the mobile payments revolution. A unique QR code and number are assigned to each point of sale terminal at the merchant's store. That is all there is to it. The merchant does not need to buy anything, the buyer does not need any special "chip" inside their smartphone. The smartphone can scan the QR code at the merchant and the purchase is secured with a PIN ( Personal Identification Number ) just like any other credit card. The merchant scans the Digimo card at their existing point of sale reader and the transaction is completed.

The scenario of paying at a merchant is not the only work the Digimo system can do. A seller can post a QR code anywhere and it can be scanned by anyone with the Digimo account. The example is given of a music lover jamming to their tunes at a bus stop. They look up to see a group of QR codes with a picture of headphones above it. They scan the QR code and, thanks to their Digimo account, they can buy the headphones on the spot. Not only that, the Digimo system allows a type of "peer to peer" money transfer from smartphone to smartphone. Not only can payments be made but coupons can be sent to friends with the Digimo app. Sitting at a coffe shop, the buyer scans the special QR code, pays with their smartphone, and then is presented with the choice of sending a coupon to a friend. Getting an offer via a smartphone from a trusted friend is what the big social companies like Foursquare and Facebook are trying to accomplish. Facebook is moving slowly into the mobile scene and Foursquare has yet to offer mobile payments with their app. Digimo seems to have found a very popular niche that they fill in without a lot of complications. Digimo is seeking some of that ever-popular "venture capital" to bring their idea to the United States. So far they are on a "pilot program" in Israel.

   

   

Comments

I came across this site that shows pictures of people from all around the world scanning QR codes: Pictures of people scanning QR codes  .. i think it says quite a lot about how widely adapted QR codes are becoming..

More news reported today says that people are buying more smartphones than feature ( dumb ) phones in the United States. Since most are based on Android or iOS, the Digimo mobile payments solution is right on time to replace credit cards.

 

The good news is that it needs no new hardware for seller or buyer.

 

Update.

One third of all the USA now has a smartphone.

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