Whilst US payments provider Stripe recently checked into Melbourne with a seed team, Amsterdam based EAZE is taking the lead in frictionless payment systems through Google Glass with a Beta version of it’s app which just requires a ‘nod’ from the user to authorise payment for items.
At the moment EAZE supports Blockchain and Coinbase wallets for Bitcoin and is currently working on bringing Fiat currency to EAZE, likely starting with the Euro and US Dollar. At the moment EAZE is only available on Glass and payment is made by activating the app with the command, ‘OK, Glass make a payment’ and scanning a QR code before nodding to pay.
Although Bitcoin is not a widely used currency, EAZE could have made a smart move in stealing the limelight for frictionless payment.
The end game for this kind of payment system would be to use any payment wallet desired by the user and one of the next steps for EAZE is to allow payment using PayPal. Whilst the market for virtual currency is not currently huge, the jump EAZE has on the release of any type of Glass payment system means that it is putting it’s hand up first for attention in a market which could be insanely lucrative.