Mobile payments are payments that are made with the help of applications available to use in a smartphone or more commonly called, mobile phones. These applications allow us to link our bank accounts to the app and perform transactions whenever and wherever we wish to.
Mobile payments have gained a lot of popularity since it has been introduced and is just growing as the time passes, now let us look at the reasons behind its success and also why it is counted as a superior form than normal payments.
But before going to the reasons, let us remember that this method of mobile payment is not only used to perform transactions on online sites or while buying and selling on any online platform, mobile payments are also used to pay the bill when in a physical store. Like, let’s say that one person went to a cafe where he ordered his drinks. When it comes to paying for the bill, he can use the very same app he uses to pay when buying stuff from online markets to pay for the bill in the cafe.
Now we revert back to the reasons for its popularity.
The most basic reason for its popularity is the increase in usage of smartphones and internet connection. Now, having a smartphone is a very common thing, everyone finds it mandatory to have one. An internet connection is no more a luxury and has also become very much mandatory to have when using a smartphone. With these two things available, the need to use a payment app follows.
One can even go out of their house, cashless. This is the era where every person is searching for a shortcut, for a way to make things easier and faster and going cashless not only saves them from fearing they have lost their wallet, or have forgotten to bring it with them or don’t have enough loose cash to pay. Now, no one ever forgets their phone at home, it has become like a third hand to the majority of the people, so now this can be useful when it comes to payment. Leave your wallet at home and come cashless, pay straight from your phone.
In online shopping customers are many times rewarded by paying online? Most online shopping sites give extra credits or discounts to the customer and this is when customers usually prefer using mobile payment apps over Cash on delivery or using the card for payments.
Mobile payments also remove the limits of paying for online jobs. One can perform or be a part of online jobs or classes and use a mobile payments app to perform the transaction, either to receive it or to pay for the service. This availability has increased the amount of people who prefer to work from home and get paid for that and also has been a blessing to those who wish to study different courses online.
The problem with card payments is that one has to type in the card details while payments are to be made in a physical store, this not only prove to be not completely secure but is also tedious when there is a large number of people behind you in the queue and you are caught up with the anxiety of having to go faster. And not everyone can say that they are good at remembering numbers. But with a mobile payment app, once you can simply perform the transaction by scanning the QR code.
Go cashless, perform mobile payments.