In a widely reported statement at the LeWeb conference in Paris, PayPal President David Marcus praised bitcoin but noted that NFC isn’t “solving real people’s problems,” CNET reported on December 10.
“I don’t think [bitcoin is] a currency. It’s a store of value, a distributed ledger,” Marcus explained.
After speaking positively about bitcoin, he went on to suggest that NFC is a dead-end approach to payments processing. He said that the technology is “too little too late,” particularly because consumers are moving away from the physical point-of-sale.
It remains to be seen whether NFC will take hold in the market. However, Applebee’s new tablet-based POS system included NFC chips, suggesting that some are still interested in the potential applications of the technology.
To learn more about this development, and what it means for the restaurant space, click here.
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