What if you could just nod to pay for anything? Today at the Wearable Wednesday event in Barcelona, Dutch start-up EAZE introduced a new service called “Nod To Pay”, a Bitcoin enabled wallet that works on Google Glass. The service demonstrates how frictionless payments work when the right technologies are combined.
Paying with “Nod To Pay” is truly frictionless. A Google Glass user activates the service with the command “OK Glass, make a payment”. Glass then scans the QR code of any Bitcoin enabled Point Of Sales (POS) application. The transaction details appear on the display of Glass. The user then only needs to nod twice to confirm the payment, making it a truly handsfree payment solution.
To keep it safe, a “Nod To Pay” spending limit can easily be set, just like anyone would do with a normal wallet holding offline cash. Any transaction amount above that limit will require an additional security (PIN) code to confirm the payment.
EAZE also provides a POS application for businesses with which they can accept payments. This POS application follows the same philosophy of frictionless payments: to start receiving payments, the merchant only needs to download the app and add a logo, and an account is then made automatically. The app will be available for iOS and Android.
The combination of the EAZE wallet and POS application working together with the Bitcoin protocol enables new ways to interact between consumers and merchants. Immediately after a successful transaction, an EAZE user can decide to follow the merchant, making any EAZE transaction a way for both customers and businesses to further develop their relationship.
All deposited Bitcoins in the EAZE wallet are stored in a deterministic wallet, which the user unlocks locally with a passphrase. This wallet exists only in the memory of the user's Glass, so the Bitcoins are never accessible via the server. Using this technique, the user is always in full control and possession of the content of the wallet.
Raimo van der Klein, co-founder: “Payments in the future are a combination of software, wearables and gestures. Technology now enables us to create completely new ways to pay. We don’t need debet or credit cards to authenticate. Wearables like bracelets, rings and Google Glass can identify us. Authorizing a payment can also be done with simple gestures. With EAZE, we are developing these new ways to pay using cutting-edge technology. “Nod To Pay” is our first service and many others will follow.”
Rutger van Zuidam, co-founder: “We are working to host several types of currency on the EAZE ecosystem and make them usable for any type of device as long as it fits our philosophy of frictionless payments. Bitcoin is a great platform to build new services on because you can directly program your money as well as the money flows. Interaction through payments is a new vista showing us countless of opportunities to integrate payments with the social processes that come with them. Of course, when they adopt the technological ability to fit the needs of our users, we would also welcome traditional currency systems like the euro and the dollar.”
EAZE, founded in 2014, is a payment solution provider from the Netherlands, determined to deliver safe and frictionless payment solutions and connect customers and merchants. The team consists of highly specialized professionals in online security, mobile technology, Bitcoin, e-commerce and payments. Together, they use the latest technologies to design next generation payment services.
Via Rutger van Zuidam