Payment startup Dwolla announced a new service called Proxi that will allow its 40,000 users to pay each other or a business via mobile device, based on proximity.
“The new tech will allow users to convert their Dwolla enabled devices into movable Spots to seamlessly take payments without additional hardware, like NFC or dongles.”
This service uses GPS to enable consumers to locate nearby contacts (businesses or individuals) and pay them using nothing but their mobile device.
To learn more about Dwolla, watch their demo from FinovateSpring 2011.