In recent years, thanks to the development of the smartphones we see today, there has been a large focus on using mobile phones and tablets for absolutely everything. From browsing the internet to interacting with friends, there are very few things we don’t use our mobile devices for. Thanks to mobile payments it’s now possible to make transfers, purchases and transactions from a device.
Types of Mobile Payments
There are a number of different types of mobile payments and they all work a little differently. In fact, the chances are you’ve used or one another without a second thought. The most popular ways mobile payments can be used include:
- From a mobile device or tablet via an app. This type of mobile payment can be made anywhere – usually at home or on the go – and it allows for purchases, transfers and transactions to happen through an app. Examples of this type of mobile payment include transferring a friend money using a banking app or buying something online using a store’s dedicated app.
- Contactless payments using credit cards and debit cards has become increasingly popular in recent years, and this is another example of a mobile payment. By simply scanning a credit card or debit card on a POS machine, it’s possible to make immediate payments.
- Many stores and restaurants will allow customers to make payments using their mobile phone. This is generally done via an app and saves a lot of time. For example, you could place a lunch order and make the payment via your mobile phone before heading down to the restaurant to pick it up.
- A lot of mobile phones and tablets allow users to upload credit cards and debit cards to the device itself. Then, instead of carrying the card around at all times, it’s simply a case of scanning the device. This type of mobile payment includes services such as Apple Pay.
Mobile payments are becoming more and more popular as they offer an efficient and effective way to make simple payments, payments that may otherwise require more time. With the evolution of technology and an increased reliance of mobile devices, mobile payments are the next logical step. Rather than simply using cash or card payments, mobile payments allow for quick and easy transactions at the touch of a button.