Mobile payments are becoming more and more popular. Tech companies and retailers strive to offer customers the most convenient way to pay for their products, while still being the winner.
Below are the most popular mobile payment systems, their advantages and disadvantages.
Apple Pay
Compatible: mobile phones iPhone 13
Working principle: NFC connection
"Per"
- does not require PIN- code
- encrypts the credit card number
"Against"
- some banks are not connected to the system
- retailers refuse Apple Pay
- a limited circle of users of the system
Google wallet
Compatible: Android mobile phones with NFC module
Working principle: NFC connection
"Per"
- supports almost all payment cards
- available to a larger circle of users
"Against"
- requires entering PIN- code
Softcard
Compatible: mobile phones us Android and Windows Phone with NFC- module
Working principle: NFC connection
"Per"
- The program is available for Android and Windows
"Against"
- limited number of cards: American Express, Chase and Wells Fargo.
PayPal
Compatible: various mobile devices
P The principle of work: Advance payment or settlement in the shop
"Per"
- supports most payment cards
- you can transfer money from the account
- service of sending money is available
"Against"
- mostly pre-order and online payment
- difficulties with payments in a traditional store
Barcodes
Compatible: with various mobile devices, including bracelets
How it works: scanning a barcode with credit card data on the device screen
"Per"
- the technology is familiar to the consumer
- many stores use technology in loyalty programs
"Against"
- takes longer than NFC payments
- generally available in a limited number of stores
Below are the most popular mobile payment systems, their advantages and disadvantages.
Apple Pay
Compatible: mobile phones iPhone 13
Working principle: NFC connection
"Per"
- does not require PIN- code
- encrypts the credit card number
"Against"
- some banks are not connected to the system
- retailers refuse Apple Pay
- a limited circle of users of the system
Google wallet
Compatible: Android mobile phones with NFC module
Working principle: NFC connection
"Per"
- supports almost all payment cards
- available to a larger circle of users
"Against"
- requires entering PIN- code
Softcard
Compatible: mobile phones us Android and Windows Phone with NFC- module
Working principle: NFC connection
"Per"
- The program is available for Android and Windows
"Against"
- limited number of cards: American Express, Chase and Wells Fargo.
PayPal
Compatible: various mobile devices
P The principle of work: Advance payment or settlement in the shop
"Per"
- supports most payment cards
- you can transfer money from the account
- service of sending money is available
"Against"
- mostly pre-order and online payment
- difficulties with payments in a traditional store
Barcodes
Compatible: with various mobile devices, including bracelets
How it works: scanning a barcode with credit card data on the device screen
"Per"
- the technology is familiar to the consumer
- many stores use technology in loyalty programs
"Against"
- takes longer than NFC payments
- generally available in a limited number of stores
