Paypal has teamed up with the Starbucks located on its corporate campus in order to test a new technology utilizing beacons and wearable devices.
The ‘wearable wallet’ integrates with smartwatches and upon entering Starbucks, the beacon shoots a push notification to the customer’s wearable device.
The customer is then able to redeem an offer or make a quick purchase, coffee in this case, by simply using their smartwatch and beacon-enabled payments.
Currently in beta, it remains to be seen whether Paypal’s new idea can compete with the incoming wave of startup companies focused on innovative systems for making payments more efficient.
