CARRYING MONEY AROUND in bulk is never advisable and this is fast going away with the invention of easier methods of making payment. Mobile payments are even taking the place of credit cards and money in paper form. This technology has made it easier to pay for everything that one requires by using a mobile phone. It has proven to save on time and its convenience goes a long way. In the event that one may have forgotten their wallet or purse (which we’ve all done at least once) but they still have their phones, mobile payment is the most reliable solution.
There are technology and communication companies that have partnered so as to make this dream a reality, thus illustrating the biggest reason why this form of technology has taken root. One of these companies is Google with their application, Google Wallet. Others include well-known communication providers, AT&T and T-Mobile.
I still don’t get it. What IS it?
It is the ISIS network. The mobile payment on communication providers has the ability to even mix funds together with coupons that may be received in stores and online.
Mobile payment methods also offer users the capability to receive money sent by others. You can also make payments by using the cell phone, including processing payments that are made by credit cards. This method is used mostly by sales personnel who conduct business in a rush so they can proceed to other customers. Mobile payment is also widely used in events that happen along the streets like circuses or fairs.
The companies that offer this mobile payment through a credit card terminal include Square (partner with Visa) which has an application that helps users connect to their mobile gadget. It also has a free credit card reader and its charge is comparatively low at 2.75%. VeriFone’s PAYware Mobile is also a company that has a credit card terminal in its usage. It is activated on every iPhone after paying a $49 fee for an encrypted card reader. There may be some other charges that might be imposed on the service but this takes care of every transaction done.
Other than this, there are other types of mobile payments that exist and are used in the transactions made. They include those like the PayPal app, an application that is used to send money from your phone to another’s, similar to its popular online platform used on computers.
Using mobile payments is the easiest form of payment as there is no need of bulky receipts and the transactions are fast and easy to happen.