Mobile

Why Mobile Payments System is Best & Secure for Economical Growth

Mobile Payments are predicted to take off in a big way in 2015 and are truly the trend of the future. 2014 has been a good year with the high profile launch by Apple and this will help drive future growth in the segment.

As a result, there now seems to be a happy nexus of several major mobile payment system launches world-wide, as well as more consumer acceptability that makes 2015 the year of greatest potential growth.


Mobile Payments

Over the last few years more people, in many different regions from Africa to Kuwait, have become increasingly comfortable with the idea of mobile payments. They have been impressed by the promise of ease and convenience and also convinced about the benefits that freedom from cash provides.

Some of the predictions we can make for mobile payments in 2015 are:

More Business Acceptability
Businesses are now ready to embrace innovation in payments. That is why more and more companies are recognizing the benefits of mobile payments and welcoming them as a way to increase footfall through their bricks and mortar stores as well as online sites. They know that faster transactions will help build greater customer loyalty and increase sales, which is the desired result of all enterprises.

Greater Consumer Acceptance
More consumers will embrace these frictionless payments as way to enhance their shopping experiences. 85% of the world population has a mobile, so using these phones for making payments can soon become the norm, as more people try out and adopt this convenience. As the trend grows, shoppers will feel comfortable using and recommending mobile payment solutions.

Also Read:  Best Budget Smartphones To Buy in 2017

The Growth of Contactless Payments
The growth of near field communication (NFC) technology will make purchasing as easy as tapping a phone. The relevant amount will then be deducted quickly and safely without any other unnecessary transfer of confidential information. This technology will help drive global commerce and usher in a new era of payments. According to Juniper Research, NFC is estimated to facilitate USD 74 billion in transactions by 2015.

Shift towards a Cashless Economy
The move towards a cashless system will make the need for carrying exact change and actual wallets obsolete. Especially for smaller payments such as bus fees or parking fares, mobile payment solutions are the ideal option and will decrease time wasted in line paying dues. Also cash notes can be lost or stolen, but even if your phone is taken, your mobile balance stays protected. Cash now seems like an old-fashioned method of payment and the thought of carrying currency in an often uncertain world is fast losing its appeal.

Safer Payments
Many more consumers will feel comfortable using a safer, more secure technology like electronic wallets. These are so much more secure because they are PIN protected in case of loss. Unlike paying with credit cards, there is no need to share any confidential information whilst paying for goods and services.

24-hr Flexibility
As more shopping moves online, mobile payment solutions give an added incentive to consumers as they can enjoy more flexibility around the clock and across the globe. Now they can shop and pay whilst on their daily commute, away on vacation or anytime and anywhere. Since more people around the world have mobile phones than actual bank accounts or credit cards, mobile payments will give a boost to an already massive online market place.

Also Read:  Which Best LG Smartphone You Want To Buy?

Greater Inclusion
Many developing countries that have limited access to banking facilities will embrace these mobile payments as an easy way to provide financial inclusion to their fast growing populations. These will especially help with the growth of microfinance payments and create new opportunities for many economies.

More Value
Mobile phones and Mobile Network Operators (MNOs) are seeing exponential growth across the world. MNOs will see these payments as a way to provide greater value to their consumers and an added benefit for signing up with their networks. There will be greater consumer engagement and more chance of usage when these mammoth networks are involved.

Prompt Payments
The MNOs will also gain prompt payments which will benefit businesses worldwide. All transactions will be PIN protected and will reduce the likelihood of any misuse or theft which will enhance the growth of transactions.

Economic Growth
Mobile payment systems will drive business growth and consumer confidence which will help economies to grow and flourish. This will help enhance consumer well-being and lifestyle and lead to positive impact globally.

Conclusion
The year 2015 is poised to be the year of mobile payments and countless factors are at play to make this possible. Greater business innovation, more consumer acceptance, the growth of mobile networks and strong phone sales worldwide all make mobile payment systems the way of the future.

147 total views, 64 views today

Sell Text Links & Earn Money

Buy and Sell Text Links
For More Tech Related Information, Visit us at Etech Spider. You can also Follow us on Twitter and Facebook.

Post Comment

resume writing tips
Impressive CVs Resume Writing Tips

Resume is considered as the most important part of individual’s career...

Customer Engagement
5 Important Strategies for Customer Engagement

Staff turnover and attribution is one of the most important issues...

Reverse Logistics
How To Improve Efficiency of Reverse Logistics

It is quite an astonishing fact to know that a country...

block-Pop-Up-Ads-on-Android
How To Stop Pop Up Ads on Android Tablets

Pop up ads appear randomly when one is busy on another...

web design services for small business
Benefits of Hiring Professional Web Design Services

Professional web designer service providers think about the big image. They create...

Logo Design Apps For Android
Top 5 Best Android Logo Maker Apps

Logo Maker APP APK > Your logo is the symbol of...

Online security
How To Improve Online Security?

The Internet offers access to a world of information as well...

Microsoft-Dynamics-365
Top 5 Ways To Manage Dynamics AX Lifecycle with Team Foundation Server

For a tech geek businessman or businesswoman, Microsoft Team Foundation Server...

Online Store Using Wordpress
How To Build An Online Store Using WordPress

The most raised concerns that we often receive are “How we...

List of 6 Anti-Spam Plugins for Your WordPress Security

Although WordPress is the widely used content management system on the...

worpdress-portfolio-plugins
Amazing WordPress Portfolio Plugins To Try Right Now

The extensive portfolio is the best way to show all your...

how-to-improve-wordpress-speed
How To Improve WordPress Blog Speed

The loading speed of your WordPress websites is a crucial aspect...

Social Media
Social Media in Focus as Marketing Strategy

With the expansion of different social media networks, marketing strategies in...

Facebook Ads For Promotion
How To Use Facebook Ads For Boosting Your Best Contents

Nowadays, without social media, standing tall in this competitive market is...

Digital-marketing-strategy
Make Your Company Successful Online With These Digital Strategies

Savvy corporate leaders and entrepreneurs who want their organizations to be...

Get More Search Traffic?
How To Use Knowledge Graph Technology To Get More Search Traffic?

Knowledge Graph from Google was introduced in May 2012. It is...

Parental Control Software Kids
Why Parents Need Parental Control Software For Their Kid’s Smartphone

You must agree with me if I say that the internet...

Customized EHR software
How To Fix EHR To Increase Its Usability?

Electronic Health Records have proved to be beneficial in many ways....

Best antivirus software 2017
Top 10 Best Antivirus Software Review

Computer Security Systems is one way of avoiding malware virus that...

WhatsApp Status
An Update is on the way for your WhatsApp Status

In the present era, WhatsApp is said to be the world’s...

Best Streaming Music App For Android
Popular Streaming Music App For Android

While the on demand apps are ruling the digital world, the...

7 Points To Remember When Launching Your App on Google Store

Before you decide on publishing your Android applications on Google and...

Download Facetime App And Connect Friends Easily

It is not about the time to meet and show the...

Top 5 Online Movies App for Android

These days our computers are getting smaller while our phones are...

How To Use Ios10
How To Use iOS10 To Its True Potential: Tips And Tricks For Your iPhone 7

Its iOS 10 – Apple’s latest operating system, the latest upgrade...

mobile-game-development
Game Development Engines For iOS

Mobile application development is the most recent thing in the game...

Internet of Things
IOT ‘Internet of Things’ Technological Boon for Upcoming Market

So now, since IoT has been implemented gradually, the technology has...

iphone-7
What Can We Expect With iPhone 7?

Apple has gained its reputation for building phones that other companies...

Mobile Payments
Why Mobile Payments System is Best & Secure for Economical Growth

Mobile Payments are predicted to take off in a big way...

Xiaomi Mi6 Rumours
Xiaomi Mi6 Rumours, Xiaomi Mi6 Reviews & Full Specification

Xiaomi the fastest growing manufacturer of Android smartphones and is ready...

Smartphones To Buy in 2017
Best Budget Smartphones To Buy in 2017

Everybody is finding a good smartphone with all the latest features,...

Samsung Galaxy S8
Samsung S8: Release Date, Features, Specs and Price

Samsung has been in the news for quite a while after...

keep child safe
How To Keep Your Child Safe

It is always a bit of a bummer when your favourite...

Data Loss
Causes of Data Loss: Probably the Biggest IT Problem

What are the causes of data loss? More often, we are...

Uber
Conception of Uber trucks at China outturns one billion dollar

Uber has almost tried in every service related to ride-hailing. Be...

Internet of Things
How Internet of Things (IoT) technology will change the way of work?

IoT or the Internet of Things may seem to be all...