Dwolla, an online, social, mobile and location-based payment platform, is planning to release a new payment tool that will not require investments in additional hardware.
Proxi, the new tool, will allow users to exchange funds with people and merchants in their proximity without the need for cash, cards or near-field communication (NFC).
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As well as its peer-to-peer uses, Proxi is a way for merchants to accept mobile payments without the need for investment in additional hardware.
This makes Proxi an ideal platform for smaller businesses and mobile merchants, such as taxi drivers or market vendors, the vendor said.
Ben Milne, Dwollas founder, said:
Proxi represents a software solution to mobile payments’ current hardware problem.
Proxi allows merchants to broadcast their location to other Proxi users within a specified radius for a specified amount of time meaning potential customers are provided with a real-time list of nearby Dwolla-accepting merchants.
Proxi is currently undergoing beta testing on the Apple iOS system with plans to open the beta test up to all interested user via the App Store in September.
