The mBeaconSAM is a smart card that one can install on existing credit card readers to enable its holders to accept mobile payments and offer other value added services that use BLE, according to Netclearance.   mBeaconSAM enables IoT payments at POS.

Why Should I Trust It?

There is the built-in ECDSA bank-level encryption (same security scheme used in the Bitcoin blockchain ledger) at the card level that protects your identity and data while you attempt to pay for a purchase.  In fact, some may say that security is one of the top ten reasons that consumers prefer to continue using the old ways of buying goods and services. Indeed, trust is a gigantic issue.  Netclearance endeavors to change this, for merchants and consumers alike.

Contextual Payments

And according to "LOT Enabled Payments" the advantages do not end there. The Bluetooth chip in a mBeaconSAM allows companies to acquire data that give information about a consumer's shopping habits that could easily lead to changes on how companies market their products which, in turn, could lead to more customers, and, therefore, more targeted sales.  A company such as Netclearance, for example, could use such data to make mobile wallets more marketable, which, in fact, goes along with its vision of making mobile wallets more "marketable and safe,"as the article points out.

There is no further dependency on the walled schemes like ApplePay or Android Pay to accept payments from smartphones or other wearable devices. It is not limited to current technology.  This results in quick payments at point of sale purchases, whether on IBI, Android or Bluetooth devices, according to PYMTS.com. 

mBeaconSAM is just one of a number of new technologies that the company is offering as it prepares to bring faster and secure mobile payment solutions into the 21st century as people seek more efficient ways to pay for goods and services.