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TMG unveils Dwolla payments app for Google Glass


Payments processor, The Members Group (TMG), has introduced a payments application for Google Glass that allows consumers to make purchases with a swipe of the touch pad on the eyewear frames.

The app, called See2Pay, was developed in the TMG Innovation Lab over the last 12 months. TMG says the Innovation Lab is exclusively devoted to building and testing consumer-centric digital payment solutions. 

The team leveraged an existing P2P network to develop the processing system behind the app. Transactions performed through See2Pay are routed through the Dwolla payments platform, one of PayPal’s most notable competitors.

In a presentation at TMG’s executive summit, titled ‘The Future of Payments’, TMG senior product Manager Brian Day showed financial institution leaders how the app works. A video demonstration is available here: https://www.youtube.com/watch?v=D-3UKp0a4nU&feature=youtu.be.

After examining the video, it is clear that there is a location process that occurs before the ‘one tap’ payment verification, in which the See2Pay application seeks out the merchant’s POS. It is not yet clear what systems the merchant will have to have in place to facilitate sales, but it is likely that the POS will at least have to support Dwolla payment products.

TMG will release the app’s code on GitHub, a web-based hosting service for software development projects. This will open See2Pay up to the larger developer ecosystem and increase opportunities for Google Glass owners to begin using the app before an official launch. Making code available to developer communities is proving to be a popular trend in the payments industry, with many payments companies launching ‘hackathons’ to encourage market disruption.  

Earlier this month, Vocalink opened Zapp up to developers in a hackathon which was eventually won by SagePay. The modified version of the payments service detects when users are in or near a registered event such as a concert and then presents the opportunity for the customer to purchase a ticket and pay using Zapp. Once payment is made, a virtual ticket is sent to their device.

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IARB co-chairmen Michael Lafferty and Dick Harryvan discuss the latest rate rigging scandal and ethics in banking on the BBC World Service's World Business Report.
http://www.bbc.co.uk/i/p01m9IARB co-chairmen Michael Lafferty and Dick Harryvan discuss the latest rate rigging scandal and ethics in banking on the BBC World Service's World Business Report.