Mobile card payment versus credit card payment
Mobile card payment versus credit card payment
These days it is so commonplace to see people using their mobile phones to pay for goods and services that you wonder how much further technology can change the way people conduct business. More than ever before, there is now a high number of people who prefer the mobile card payment option as their method of payment whenever they make purchases.
Whether you own a coffee shop or you are a customer at a pizza place, the mobile card payment is an integral part of business transactions, and from the look of things, it is here to stay. There are many parallels to be drawn between the mobile card option and the use of the credit card itself.
Let us compare the two methods of payment.
Digital wallet
Now, you no longer have to directly give your credit card information to a vendor when shopping. With mobile card payment, you can complete the entire transaction on your mobile phone. All you need is the vendor to calculate how much you owe him and then do the rest by yourself. You can also complete your transactions online through a service like PayPal, thanks to the digital wallet.
No impersonation with the mobile card payment
If a thief steals your credit card, he can use it to impersonate you at a checkout line, especially if the card does not have the chip-and-pin technology. On the other hand, if you lose your mobile phone, no one can complete any transactions as they cannot access your card details or match your fingerprints which are required in many transactions. To start with, the mobile phone is likely to request for the user’s pin before anybody can use it.
Mobile card payment is more convenient
Compared to payments using credit or debit cards, the mobile card payment is definitely more convenient. Imagine how light your wallet would be if you didn’t have to carry all those cards. You can also store a lot of your documents in your phone and not have to worry about losing them. At the same time, you don’t have to tell your details to a third party as you can complete the transaction by yourself.
Phone tracking is easier
Recovering a lost card can be very difficult compared to finding a lost phone. Phones now have tracking software which means that if you misplace it or it is stolen, you can still identify its location. Once you lose your credit card, it will be very difficult to find it. This is another big difference between using your credit card and mobile phone payment.
Mobile card payment is easier for businesses to set up
For a store owner in a remote location, even if you cannot provide a card facility for your customers, they can still use mobile card payment. This means that they don’t have to cover a long distance because they don’t have access to bank ATMs.
As a business owner, if you haven’t been paying the mobile car payment option serious thought, it is high time you start doing so. Although there are still people who are still holding on to cards as their method of payment, it may long before the mobile card payment is the method of choice for the majority.
