We think QR-Codes exchange between merchant and his customer just for a BitCoin payment is cumbersome.
- Customer cannot read the QR code himself
- Customer wants it easy to handle
- 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
- 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.