Economy, Sci & Tech
0

Bluetooth Mobile Payment Service Launched

New application launched for  mobile paymentsNew application launched for  mobile payments

Programmers from Iran’s largest local Android app store have developed a new payment application which enables users to transfer money via Bluetooth technology.

According to the local tech website, Resid (literally delivered) is the first payment service in Iran using Bluetooth technology for financial transactions.

The application has two versions 'Merchant' (recipient of the transaction) and 'Customer'.

After downloading and installing the application, users have to create an account entering personal information including phone number, national ID number and International Bank Account Number (IBAN). Users can get their IBAN online via the website of the bank they have an account with, or visit a branch to receive it in person.

The personal information of the users will be stored in the company’s database.

The 'merchant' after enabling his phone's Bluetooth enters the amount of the transaction. The 'customer' will also activate his phone's Bluetooth.

After the bill amount is finalized, the merchant’s device will communicate with customer’s phone and send the amount due. The latter gets a request, which he can accept or reejct.

If the customer accepts, money is transferred from his account into the merchant’s account.

According to the report, for now only owners of Android phones can use the service, but the iOS version of the app will be released in the coming weeks.

However, one of the problems that the developers have to overcome is connecting a phone running on iOS with an Android phone. An Android phone cannot be connected to an iPhone over Bluetooth since Apple has restrictions that prevent this.

In recent months smartphone payment services have been in the limelight with several services launched, and mostly based on the Near Field Communication technology.

NFC method makes transactions possible by holding two electronic devices 10 cm from each other.

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com