Mobile payments are advertised as a quick and convenient way to pay for anything. Just tap your smartphone to the payment terminal and — like magic — your credit card is charged for your purchase. It really couldn't be easier. However, digital payments are a little more complicated than that. Paying for purchases with your smartphone can be convenient, sure, but the technology causes frustrations of its own. So if you don't know whether you want to tie your credit card to your smartphone just yet, check out these pros and cons of mobile payments, and learn what's required for them to work. What You Need to Make Mobile Payments For digital payments to work, several pieces need to fall into place. First, you need a phone that can make mobile payments — typically, a higher-end smartphone with near-field communication (NFC) to let it talk to payment terminals. Then you need to set up your existing credit cards in the mobile wallet your phone supports. Usually, that's … [Read more...] about The pros and cons of mobile payments
Samsung mobile payment
BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Newsletter Signup Technology By Corazon Victorino 03/25/18 AT 6:59 PM The Apple-dominated market of smartwatches is expected to significantly grow in the next four years. A new report is predicting the demand for smartwatches to double as more consumers take notice of the health and mobile payment features of the wearables. Industry watchers told Korea Herald Sunday that they are anticipating the global smartwatch market to double by 2022. The reason they cited for this prediction is the fact that more consumers are becoming aware of the different functions of smartwatches, especially their uses that are applicable to the healthcare setting and mobile banking.The International Data Corporation is echoing the same thing after compiling data from the industry. The market intelligence provider said combined global shipments are expected to reach 43.6 million units this 2018. Then by 2022, the figure is … [Read more...] about Smartwatch Demand Expected To Surge As Health, Mobile Payment Features Attract Consumers
Mobile payments have been around for a long time now, but they still seem to be catching on slowly. It's still a guessing game figuring out which stores accept mobile payments and, at least around my area, getting out your phone to pay still seems to confuse store clerks more often than not. Even with all of that in mind, mobile payments are the epitome of convenience. If you forget your wallet at home or simply have too many credit cards and membership cards to physically carry around, no worries — as long as you've programmed them into your phone, all of your cards are still at your disposal. The only thing left to figure out is which mobile payment service to use. Of course, it's not as simple as just picking one from the long list on the Play Store; your options will vary greatly depending on what phone you carry — or more specifically, who makes it. There are universal options like Google Pay, which works on any Android phone that supports NFC, but if you're … [Read more...] about What’s your mobile payment service of choice?
Once the FBI is done with WhatsApp it may shift its encryption crosshairs to Facebook Messenger, if a new ‘secret conversations’ feature is rolled out. But secret chats are not the only thing that Facebook has planned for Messenger: evidence has also been found in Messenger’s source code that points to the arrival of secure mobile payments. The Information claims to have seen source code that outlines the new features, although as with all things source code, they could simply be remnants rather than breadcrumbs. If Facebook Messenger were to add encrypted messaging to its default messaging app, it would join WhatsApp in providing end-to-end encryption for chats.This would reverse Messenger’s current method of only encrypting messages between the user’s device and Facebook’s server, where they can easily be retrieved and handed over to law enforcement upon request. Considering Facebook famously co-operated with the government’s PRISM domestic … [Read more...] about Secret chats and mobile payments may soon be coming to Facebook Messenger
WhatsApp Confirmed in April 2017, WhatsApp’s mobile payments service went live in India in beta. The service connects your bank account to India’s UPI platform. It is unknown when the payments service will be available in Europe, North America, and other territories. 10 months after WhatsApp confirmed it was working on a digital payments service, the Facebook-owned messaging company seemingly launched the service in India.Available for beta users, the payments service is available from a chat window through the Attachments menu. From there, users can select their preferred bank account and have it connected to the Indian government’s Unified Payments Interface (UPI) platform. Users have reportedly encountered issues linking their bank accounts to WhatsApp, but those issues should go away with future updates. UPI is a framework that allows for instant transfer between participating banks. Companies like Samsung and Google incorporated UPI into existing hardware and … [Read more...] about WhatsApp reportedly testing mobile payments service in India