What is the future in mobile payments technology?

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By Virginia Gerdel on septiembre 18th In Mobile payments

Mobile Payments

The enormous growth that mobile devices present nowadays, the advances and rapid rate of new technologies have admitted the idea of something that was thought a few years ago as a dream: a “mobile wallet” through mobile payments.

 

Is obvious that mobile payments steps away from cash or credit card payments and becomes the solution to save time and money to any business. Tech companies have recognized the potential of digital payments and created their own solutions turning it an example of the changing reality of modern banking, and offering what consumers and business wants in terms of apps and services that allow them to pay with their phones.

Some potentialities that could be seen in mobile payments, in the future, would it be that consumers would opt to purchase or reserve items, track the status, receive notifications or updates and facilitate to choose what they want all from their smartphone. Thanks to the Internet all this will be in real-time besides, the applications will be able to connect with the preferences of the user and will provide consumers helpful insights based on their online habits, searches and behaviors.

The mobile payments admits everyday transactions, money is usually taken straight from a bank account but some services allow hold the cash in a “mobile wallet” for quicker transfers. It can be use in a store as point of sale payment, all what is needed is press a button to instantly pay a bill. Another mobile payments attribute is the possibility to use mobile card readers, a small device that plugs into a phone or tablet that can be used to accept payments from a debit or credit card. This solution is ideal for those business that who are accepting payments on the go.

 

The solution of any kind of transaction seems to be in the hands of the users thanks to technology and the evidence shows that, in the future, the mobile payments won’t be just an easy solution for customers when talking of purchase. It wouldn’t be outrageous to believe that most of the future banks will be digital banks with traditional banking services, supporting both digital and regular currencies; or the idea that even more business will opt using it.

 

New apps are emerging every day, offering all kinds of conveniences and things that never knew were needed, there’ll be more mobile payments solutions that will take advantage of the internet and consumers state of connectedness at the level of making real the idea that mobile payments will replace the old-fashioned methods and more. Do you believe it or it’s just science fiction? Have you used it? Let us your comments.

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