SparkBase, a loyalty program company, and Naratte, a wireless technology company, announced that they have developed a technology that allows smart phones to communicate with point of sale terminals without needing a radio-frequency identification tags or near field communication chips.
More than 50 million iPhone and Android smart phones in use today will be able to take advantage of this capability. Any terminals or POS system that currently integrates with the SparkBase processing network will be able to accept Zoosh-enabled transmissions by simply plugging in a low cost sensor. The sensor will retail for under $50.
The company plans to use the technology for loyalty and gift card transactions with terminals that are connected to SparkBase.
Read the full story here: http://www.greensheet.com/newswire.php?flag=display_story&id=21756
Additional information at: http://www.sparkbase.com/naratte