Luxembourg's Yapital Adds Bluetooth Low Energy Tech for Payments

By John Adams

Published February 13, 2014, 9:27 a.m. EST

|

Updated February 13, 2014, 8:27 a.m. EST

1 Min Read

Payments service provider Yapital has integrated Bluetooth Low Energy (BLE) wireless technology into its portfolio, enabling a range of new proximity payments and location-based services.

Processing Content

Luxembourg-based Yapital is adding BLE to its POSCard product, which was developed in partnership with technology company POSPartner. The card is designed to enable a wireless connection between the smartphone and point of sale terminal in areas with or without mobile network coverage, such as shops located underground.

Yapital and POSPartner were attracted to the technology because of its longer range than Near Field Communication (NFC), a technology used in many mobile wallets for contactless payments.

"In conjunction with Yapital, we are giving retailers the opportunity to offer their customers an improved shopping experience even without network coverage and at the same time reduce waiting times at the checkout," says Peter Reich, CEO of POSPartner, in a Feb. 13 press release.

Many newer mobile payment and marketing initiatives use BLE technology. These include PayPal Beacon, Apple's iBeacon, shopkick's ShopBeacon and Qualcomm's Gimbal.

Other companies support cloud-based payments or payments made by scanning bar codes on a phone's screen. These include the Starbucks app, PayPal, Square Wallet and the upcoming Merchant Customer Exchange wallet.

Executive Editor, Payments

John Adams is executive editor of payments for American Banker. John interviews top executives in the payments, cryptocurrency and fintech... Read full bio

For reprint and licensing requests for this article, click here.

Mobile payments

MORE FROM AMERICAN BANKER

Politics

White House says stablecoin yield won't hurt bank deposits

A new analysis from the White House's Council of Economic Advisers says the banking industry's fears about deposit flight are overstated. Experts familiar with the banking industry's concerns say the report's conclusions are beside the point.

By Claire Williams
Reporter

4h ago
Agentic Commerce

Visa expands agentic commerce; Revolut battles Italian regulators

The card brand introduced tech for businesses to tap agentic AI, while Revolut counters Italy's accusations of inaccurate marketing. That and more in the American Banker global payments and fintech roundup.

By John Adams and Joey Pizzolato

4h ago
Treasury Department

Treasury proposes AML rules for stablecoin issuers

The Treasury Department Wednesday proposed a set of rules that would require stablecoin issuers to abide by risk-based anti-money-laundering programs similar to those that banks must employ, as well as secondary market monitoring and independent testing by issuers.

By Ebrima Santos Sanneh
Reporter

5h ago
M&A

Capital One pushes deeper into AI, business payments

Closing its Brex acquisition adds a corporate-focused fintech and new agentic commerce tools to an already considerable consumer payments division.

By John Adams
Executive Editor, Payments

7h ago
Artificial intelligence

Exclusive research Big AI spenders are reaping large productivity gains

American Banker data found that those who upped artificial intelligence spending by more than 25% in the last year saw major improvements in employee output.

By Frank Gargano
Data Reporter

8h ago
Secondary markets

Basel draft leaves nonbank warehouse financing in limbo

A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.

By Bonnie Sinnock
Capital Markets Editor

8h ago

Load More