Magazine article American Banker

The Making of a Google Glass Payments App

Magazine article American Banker

The Making of a Google Glass Payments App

Article excerpt

Byline: Bailey Reutzel

As technology gets more complex, the process of making a payment must remain simple, says Ryan Anderson, vice president of product at The Members Group (TMG).

The vendor's innovation lab is keeping this philosophy in mind when it designs payment applications for new products like Google Glass, a glasses-like wearable computer that has attracted attention from payment companies of all sizes.

"Today paying with cash and plastic is not painful; the next generation of payment methods will have to be incredibly simple and wearables offer that level of simplicity," Anderson says.

The innovation lab, which was launched 11 months ago, is "where we work on products that our outside the normal product development life cycle," Anderson says. "Our financial institution [and non-FI] clients expect us to help them navigate through the changing payment landscape."

Its Google Glass app, called See2Pay, relies on the Dwolla payment network. It uses geolocation to notify users when they're near a Dwolla-accepting merchant. The user can then pay with Dwolla by tapping out commands on the Google Glass headset.

The merchant's point of sale terminal displays a notification that payment has been made, and the consumer receives an emailed receipt.

TMG tested See2Pay in a closed-loop beta in Des Moines, Iowa for about three months, says Anderson. "The [Dwolla] network was chosen because it is a very prominent and successful peer-to-peer network," he says.

Both TMG and Dwolla are based in Des Moines. TMG was part of a group of investors that put $1 million into Dwolla in 2010. …

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