The mobile market industry has a different system of payment method and ways to receive money, with this payment system you don’t have to be worry about leaving your wallet at home because I see no problem that can come your way except for id issues (this we are not talking about).
This payment system for mobile wallet includes Paytm, PayPal, Square, Starbucks App and Google Pay, Samsung Pay, Apple Pay, OPay, CashApp and Due, etc. With mobile wallets, you can leave your purse behind.
Missed wallets, no problem
Many stores (both online and offline) accept mobile wallets payment, a technology that lets you make payments via your smartphone. You could use your credit or debit card to pay for your services or goods, if not use your mobile phone.
The mobile wallet comes in different application, from the Google Pay to Apple Pay and Samsung Pay, the Google Pay works with multiple formats, and also there are mobile wallet apps that work for specific stores, this wallet is downloaded from the retailers that you can use the apps for payment and an example of these merchant apps are Walmart and Starbucks.
Before you load all your credit cards (Bank) information on to your smartphone or you just want to give the mobile wallet a try here are the things you should know before diving in.
Mobile Wallet: A Mobile Device App
A mobile wallet is an app that allow you to make purchases with your mobile device, this device contains an app that stores your credit and debit card information for easy payment. A wallet like Apple, Samsung and Google Pay are available for mobile devices as well as wallets you can download from the play store or apps store.
You should know that you can only use the mobile wallet as a payment system if the retailers accept your device as a payment method.
Prefer Mobile Wallet
Mobile device with their choice, when you are thinking of setting up a mobile wallet account you first look at your smartphone device and check which payment system can best fit into your device as Android phone uses Google Pay so as Samsung uses Samsung Pay and Apple uses Apple Pay and in this device other payment apps can also be installed like the PayPal and another merchant wallet which would only work for the merchant store like Walmart and Starbucks. You can also use a bank app for purchases from stores that accept this payment system. Using a Merchant wallet can earn you bonuses from the store.
How it Works
How does mobile wallet work, how does payment occur? Before the payment process, you need to type in your credit or debit card (bank) information to your preferred mobile wallet device. When you are on check out and about to make a payment, show your device at the checkout line, you’ll complete the transaction by placing your device near the terminal and scanning a bar code and sign off after the purchase.
Near the terminal and scan
Where it works best
The mobile wallet works best at stores that accept mobile payment, it looks like there don’t want you to carry your credit or debit card around, instead, they offer you a way to pay for services through your smartphone device. And with you having a mobile wallet you can as well tap into the bonus reward program, which can keep track of the rewards program easily and get the credit to redeem your bonus.
Mobile Wallet Security
Are mobile wallets secure? the question is mouth-watering. Cash can be stolen, credit and debit card can be hacked, mobile wallet is the same but you can protect your information by encryption. To do this you need to lock your device at all times, use a strong password with lower and uppercase mixed with special character and enable a fingerprint for the wallet to unlock during the payment process.
The problem with the mobile wallet is that you can’t make payment whenever your battery is down, keep your device alive when you know you need to make payment.
If you decide to try out the mobile wallet, you can check out Google Pay for Android, Apple Pay for iOS, Samsung Pay for Samsung phones. If you want to get out of the box, you can try out order alternatives like PayPal, Square, Paytm, OPay, and another merchant app like Walmart.