We think QR-Codes exchange between merchant and his customer just for a BitCoin payment is cumbersome.

  1. Customer cannot read the QR code himself
  2. Customer wants it easy to handle
  3. No Bluetooth - since this drains the battery

GeoCoin hides those cryptical QR- code data from the payment process and connects merchant and customer simply by geo-fencing. The underlying real-time protocol handles the information.

Once a customer is ready for payment, he accepts the amount and DONE!

--> Customer still has full control, but does not need to deal with cryptical stuff.

Future projects, which can follow easily on top of the implementation:

  • Pay in restaurant
  • Tip waiter --> we have an example of a Pebble watch integration
  • Auction
  • Retail Stores
  • All scenarios, where users are physically in the store

The merchants, have an easy, cost-free solution to offer customers a mobile based payment solution. Instant payment helps to avoid credit card frauds.

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