Mobile payments are those payments that are made via mobile with the help of various applications that let us link our bank accounts and also gain and use e-coins. Such payments are expanding and one of the main causes being the worldwide spread of smartphones.
Majority of the population own a smartphone and of them very few would deny having internet package on their phone. For mobile payment, what exactly does one person need? A smartphone and internet are the basic requirements for making such payments, and of course, money in their accounts. Now, a majority of people have both these necessities sorted out, they prefer to travel cashless and make payments of their purchases, online.
Almost everyone living in this generation is lazy, and are going to get lazier when it comes to things such as carrying their important documents with them, searching for a word in a dictionary, searching for information in a book from the library, or even buying essential stuff by visiting the respective shops. All these stuff, in some or the other way, have been made easier for us with the help of smartphones and mobile payments are just another way of making things simpler. Now think about it, when one is in a hurry and forgets his wallet at home, should he just drop the idea of buying those yummy fries? With mobile payments, one wouldn’t have to and no, nobody ever forgets their mobile phones at home, and when they do, they’d always go back to take it with them, mobile is life and people can’t stay away from it, all the more reason why mobile payments are a big success and on its way to become even more successful.
Moreover, there are cases of online shopping, where mobile payments end up being a blessing. Most of the online shopping sites give extra credits or discounts or some other kind of reward for payments that are made online, and who doesn’t want to save money or be rewarded for the shopping they are going to feel guilty for later on?
And finally comes the case of online jobs; getting a paycheck for all the work you have done, from your boss on the designated day has become old fashion. Now with the help of the internet and all the various other technologies, one can be in India and work in a company that only has its offices and headquarters in France. But how are the payments to be made? Yes, there are various different ways, but mobile payments happen to be the easiest and most beneficial ways there can be.
With mobile payments, one does not have to worry about having change when paying the fair in a taxi or when paying odd numbers in the mall.
Citing emarketer.com mobile payments within physical stores will increase by 39.2% in 2019.
Like the director of mobile and innovation strategy at Carat USA, Michael Lie said, “the pain of putting in your credit card details is gone for the most part,” one no more has to be obliged to remember numbers so big and having the anxiety of paying the bill while everyone on the line behind them are staring at them to be faster. With mobile payment, there is no stumbling while typing the number, or having to go to the calculator app to check how much cash to receive back, just one scan of the QR code does the job and gives many the sigh of relief.
Mobile payments are just another step that has been taken not only to a cashless community, also to an eco-friendly and more technologically advanced community.