The era of paying with phone: great mobile payment systems

The era of paying with phone: great mobile payment systems

Today, it's not easy to impress anyone with what mobile devices can do. However, mobile solution creators continue doing this! Not only is mobile device usage becoming more convenient due to mobile UX best practices, but there also appear more and more options. One of these is paying with your phone using a mobile payment system.

There is no longer a need to carry a thick wallet — a thin mobile device is now capable of much more in terms of payments! It can be a wallet, a credit card and even a little bank in your pocket.

Shopping online, making transfers to distant countries, exchanging money with your peers, using your phone as a bank card at the counter and much more is now a snap. And what makes it all possible are special mobile payment solutions (apps or systems), so let’s take a look at some of them.

Some great existing mobile payment systems or apps

This Google’s creation lets you buy things online or in stores, send money to your family and friends using just an email address, and link your debit or credit card to your Google account. Google Wallet was among the first systems with NFS (Near Field Communication) support. This technology allows data transfer between nearby devices, so you can pay with your phone by holding it close to a contactless payment terminal in a store, restaurant, bus station or other establishment.

This is another NFC-supporting mobile payment system. Apple Pay is a treasure for iPhone, iPad and Apple Watch users. You just need to link a credit or debit card, and then you can pay with your mobile in places that support contactless payments — just place the device near a reader with your finger on the Touch ID. It’s also possible to pay within apps and on the web in Safari.

Here’s where social networks and payments come together perfectly. Venmo allows money transfers to mobile numbers, email addresses, as well as Facebook, Twitter and Foursquare accounts. You can use your Venmo money or connect your bank account, your credit or debit card. Receiving money is always free, and sending it is in many cases free as well, depending on the card you are using.

  • Dwolla

This mobile payment app links directly to your bank account. It is available both for iOS and Android. The transfer fee is $0.25, or none for transactions bellow $10. With it, you use your phone number, email address or Dwolla account to make a payment, and you can also transfer funds to your friends or family on Facebook, Twitter and LinkedIn.

This is the classic of online payments. The time-honored Paypal lets you shop worldwide, pay online to almost any place in the world, or receive or send money to other users with just your email address and password. It has apps for top smartphone platforms and a mobile-friendly website.

The LevelUp mobile payment system has been created primarily for the restaurant business. It supports QR code technology to make payments quick and easy. You just link your bank card to your account and then pay by simply scanning the QR code on your smartphone or smartwatch at the counter. LevelUp has an extensive support for loyalty and gift programs. It also offers opportunities for web developers to integrate their platform with LevelUp.

A mobile phone can now serve as a bank card virtually anywhere thanks to Samsung Pay — the merchant does not have to be participating. Samsung Pay uses the Magnetic Secure Transmission technology for this purpose. All you need is to connect your bank or gift cards to the platform, possibly all at once. This app is only available for Android devices.

Dining out has never been so convenient. Using TabbedOut, you can pay from your mobile phone at any restaurant or bar that supports the app, split the bill with your friends, see your tab in real time to avoid unexpected spending, and more. Have a nice meal!

These and many other mobile payment apps and systems look very promising. And the market is just heating up, evolving every day. Often, a particular mobile payment app is US-only, and the next day it becomes available worldwide. One day it is restricted to one platform, the next day it covers Android, iOS and Blackberry users. True mobility!

As mobile payment systems deal with money, they should be carefully developed, thoroughly tested, be ready to change, and prove secure and worthy of users’ trust.

With us, it is possible. If you wish to have a mobile payment system or app of your own suited to all your needs, we at the InternetDevels website development company would be honored to build it for you. Let’s discuss it now.

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