In a live presentation this afternoon at TechCrunch Disrupt in San Francisco, PayPal's Hill Ferguson announced PayPal Beacon, a new Bluetooth Low Energy token to facilitate hands-free payments in-store. In an FAQ, PayPal describes Beacon a bit more:
With one vibration or sound on your phone, you’ll know you’re checked in. And when you’re ready to make a purchase, all you have to do is say you’re paying with PayPal and the transaction is automatically completed: no cash, cards, taps, or signatures required—all hands free.PayPal says it expects that PayPal Beacon devices will be generally available for merchants to purchase by early next year. In today's announcement, PayPal didn't provide any pricing details for consumers.
PayPal Beacon will connect consumers to enhanced shopping experiences such as automatically ordering your favorite dish at your usual lunch spot, or getting personalized service at your favorite clothing store. In addition, you can choose to accept messages from stores that you walk into, so that you can take advantage of special offers in the produce aisle.