Mobile payments are fast and have many advantages

Online, modern technology and finance have gone hand in hand in recent years. This is demonstrated, for example, by mobile banking. There is, however, another rather popular topic related to mobile phones. These are mobile payments made via mobile phones. Otherwise known as NFC payments, we will now introduce you from A to Z.

Interest in mobile payments is growing

Paying by mobile phone is undoubtedly a great luxury. The safe, fast and easy way payment of any goods and services has a growing number of interested parties. This is evidenced, for example, by historical data from 2019 and 2020, when the number of clients at an unnamed bank essentially doubled. You can read the individual figures from the table presented below.

All banking houses have experienced the same trend in recent years. With the advent of more smart technologies, this is doubly true. Nowadays, mobile payments can also be made via watches.

Benefits of mobile payments

The main advantages of this payment method are security. Unlike a traditional credit card, no one can pay without access to your mobile device. In addition, card data is not transmitted, but a virtual code. Most people carry a mobile phone as opposed to a payment card. The speed of the payment is pleasant. For all payment terminals immediate execution occurs. The availability is also interesting. You don't need an internet connection and you can still make a payment.

Nowadays, you won't come across any merchant whose payment terminal doesn't support mobile payments in full.

The most widely used mobile payment systems

Payment card or virtual payment card just upload it to your mobile phone, activate the service and you're ready to go shopping. The services of the two most used mobile systems Android and iOS are used. These are Apple Pay and Google Pay. Contactless payment of this type has simply been given the green light and it is only a matter of time before further improvements appear in the banking world.