Over the last few of years our way of paying for purchases has changed. We can pay our gas at the pump, pay on a tablet or Ipad, and use our smart phones on the counter scanner. Mobile payment has been popular overseas but Google has moved it into the US a couple of years ago. More businesses are setting up their counter scanners to be able to accept mobile payment. Mobile payment, can be referred to as mobile money, mobile money transfer, and mobile wallet performed from or via a mobile device. Instead of paying with cash, check, or credit cards, a consumer can use a mobile phone to pay for services or goods.
How to use Mobile Payment:
Take your phone out of your pocket, rest a finger over the Touch ID sensor (without pressing down), and hold it over a contactless payment terminal. The iPhone uses Touch ID to authenticate your fingerprint and immediately processes the payment. Touch ID makes this more convenient as you don’t have to unlock your phone first.
Take your phone out of your pocket and hold it over the reader. You may then have to enter your Google Wallet PIN, which is supposed to be different from your phone-unlock PIN for security reasons. Where Apple Pay uses your same fingerprint at the terminal, Google Wallet requires your phone have two different PINs — it’s just clunkier. At least you don’t have to open the Google Wallet app first.
Secure Your Credit Card Number’s
With many retailers — from Target to Home Depot — showing they’re not capable of securely handling credit card numbers without losing them, security is becoming a more pressing issue. Both Apple Pay and Google Wallet offer a big advantage here. When you pay with either system, the merchant never actually gets your credit card information. In a nutshell, they get a one-time code that authorizes them to make a single charge. Any malware infesting their payment terminals won’t be able to steal your credit card details and abuse it later.
Mobile Payments are not Everywhere:
While such technologies are widely available, they don’t work everywhere. You would still need to carry around your credit card and swipe it in magnetic-strip scanners that don’t support such contactless payments. This is not something that comes as a shock as some businesses still insist on cash or checks. These payment methods need to be as convenient as possible because they compete with a piece of plastic that can be swiped or inserted everywhere. In many non-US countries (like Canada), you can tap your plastic credit card on such readers all over the place. Of course, this doesn’t give you any fingerprint or PIN security. That’s why contactless payments have traditionally been limited to smaller-value purchases.
Stores that are excepting Mobile Payments:
- Foot Locker
- Radio Shack
‘Connecting Rural Minnesota’