Paddle payment service hopes to bring 'One-click' style shopping to all sites
A British company is hoping to make the way we pay online simpler and safer by pairing online shopping with a dedicated app on your phone that stores all the data.
The new service, called Paddle - due to launch in the coming weeks - works by e-commerce sites placing the company's "buy it now" button on the site making it easier to buy items quickly.
The system could be seen as a "One-Click" Amazon style approach, but for all sites: when a user clicks on the Paddle button on the website, Paddle generates an individual QR code on the screen which users then scan with the dedicated app.
Walking us through the process, Ed Lea, the Paddle's founder showed just how easy it was to use the new system.
Once the shopper has snapped the QR code they are then asked to confirm the purchase by typing in the last three digits of the security code found on the back of the credit card.
Because Paddle has already asked for your credit card, billing and delivery details in advance and stored it with the iPhone or Android app, it means the process takes seconds rather than minutes having to fill out forms over and over again. For mobile shoppers the app is clever enough not to worry with the QR code.
Once the purchase as been approved the website will instantly complete the transaction - there is also the added bonus that the owner has to be in front of the computer to make the purchase because they've captured the QR code.
Of course the catch is that for the system to work the online shopping site needs to be signed up to the Paddle service.
At the moment those sites don't exist (the service isn't live yet) with My Wardrobe, a UK clothes shopping site, being the first to sign up to the service.
However that could all change very quickly, with Lea telling us that Marks & Spencer is to trial the software internally this month.
Lea also tells Pocket-lint that any shop owner will be able to add the code to their website quickly, with it taking anywhere between an hour and a day, depending on the complexity of the trader's site.
Having had a quick demonstration of the service in action, we are really impressed with the service and can't wait for it to come to our favourite shopping destinations in the near future.
Certainly one to watch.