Guest blog: Top 5 Benefits of Mobile Credit Card Payments
Mobile credit card payments, also known as m-payments, are expected to rise in popularity within the next several years. Surprisingly, a lot of people are unaware of this expanding technology, despite the fact that it can make many of our lives much easier.
M-payments are point of sale transactions that can be made between a mobile device and a contactless reader. If you are in a restaurant that supports m-payment, for example, you can settle your bill from your table in seconds. Although m-payment has only been tested in North America on a trial basis, the technology is being readily used in parts of Asia and Europe.
Below are the top five benefits of mobile credit card payments:
- No More Waiting in Line - What if you could pay for your groceries, your restaurant bills and any other service without waiting in line? This sounds like a dream to many, but with m-payment it could soon be a reality.
- Ease of Use - Although it may sound like an advanced technology, m-payment is actually simpler than writing a check or using a credit card machine. In fact, a complete transaction takes an average of 10 seconds and can be made via cell phone, smartphone or PDA.
- Security - Any time your credit card leaves your hand, you take a greater risk than you do when paying for things through a secure mobile channel. M-payment actually reduces your chance of becoming a victim of credit card fraud.
- Travel Advantages - In theory, you will never have to worry about changing out your currency when traveling abroad if you use m-payment. Not only that, but you can leave your physical credit cards and check books behind.
- Mobile Bank Transactions - Not only is m-payment handy for both consumers and merchants, there is also the prospect of instant, contactless bank transactions becoming part of the convenient mobile package.
M-payment isn’t a new technology. In fact, it has been in use since the mid-1990s. However, it is only now that mobile phone companies, banks and credit card companies are all converging to adopt widespread use of the technology. As trial runs show more enthusiasm for m-payment, we should expect to hear a lot more about it in the near future.
By-line:
Heather P. Johnson is a freelance writer, as well as a contributor for Credit Card Lowdown, a site for finding credit card reviews. Heather invites your comments and freelancing job opportunities at her email address: heatherjohnson2323@gmail.com.
9 comments
[…] Guest blog: Top 5 Benefits of Mobile Credit Card Payments Mobile credit card payments, also known as m-payments, are expected to rise in popularity within the next several years. Surprisingly, a lot of people are unaware of this expanding technology, despite the fact that it can make many of … […]
[…] Guest blog: Top 5 Benefits of Mobile Credit Card Payments Mobile credit card payments, also known as m-payments, are expected to rise in popularity within the next several years. Surprisingly, a lot of people are unaware of this expanding technology, despite the fact that it can make many of … […]
Good Blog. I will continue reading it in the future. Nice layout too.
Aaron Wakling
[…] Read the rest of this great post here […]
sounds like Great technology, one less piece of hardware on the retailers counter (watch out moneris and your crazy rental fees). Any examples of how the technology works, or what hardware is needed? And how can a technology that is notoriously UN secure manage to send secure data? (cant wait to see somebody try to explain to my dad that its okay to transmit financial data across a cell connection)
- thanks for the post
[…] post by Heather Johnson This entry is filed under Credit card. You can follow any responses to this entry through the […]
[…] Guest blog: Top 5 Benefits of Mobile Credit Card Payments Mobile credit card payments, also known as m-payments, are expected to rise in popularity within the next several years. Surprisingly, a lot of people are unaware of this expanding technology, despite the fact that it can make many of … […]
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This is a great idea. I think I trust the waitress however.
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