Pay with Drop marries beacons and mobile payments

Combine the popularity of iBeacons with the early success of Apple Pay and the result is a new kind of mobile payment platform that promises to "turn the mobile payments industry on its head" and transform the way consumers order and pay.

Payments startup Pay with Drop is a beacon-driven mobile payments consumer app and POS solution. Here's how it works: Shoppers can pay for purchases via the Drop app installed on a phone or wearable without standing in a checkout line. Drop lets shoppers order and pay from up to 200 feet away and collect purchases from a pick-up area.

Apple Pay, and Google Wallet, may give the consumer an alternative to a physical card or cash, but "you still have to stand in line to make a payment. Drop was designed so that you can skip the line. This is a huge, and disruptive innovation in mobile payments," said Co-Founder and CEO Karen Orford.

Drop encompasses loyalty, analytics, proximity market and payments, according to the company. Drop is a frictionless end-to-end beacon-driven solution. Shoppers can receive pushed messages through a merchant's proximity platform and receive recommendations, deals, discounts and rewards. Then without lining up, can redeem, order and pay.

The ability to pre-order and pay ahead is being rolled out--and promises to be a game changer--at quick-serve restaurants such as Starbucks (NYSE:SBUX) and Dairy Queen. Retailers including Sears (NASDAQ:SHLD) and Walmart (NYSE:WMT) have just begun to test similar programs, but the jury is still out on whether ordering ahead for curbside pick up will succeed with shoppers.

Drop boasts some heavy-hitting founders from the technology industry, but as of yet, no merchants are on record as using or testing the program, according to a company spokesperson. Drop Co-Founder and former Chief Architect of Visa Chris McDaniel said, "Drop is suitable for use in any purchasing environment; food trucks, beer festivals, stadiums, restaurants and bars all of whom would use the Drop iPad POS, right through to a solution that integrates with the existing POS and e-Commerce platforms of the giants of the Retail and Financial Services industry."

For more:
-See this Pay with Drop press release

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