Technology is everywhere. And we use it in our everyday lives, sometimes without realizing it. Phones, computers, coffee machines, all used daily and no one bats an eye. So is it not unusual for us to be able to pay with them? Lately mobile payment systems have been becoming more and more popular among people as the best way to pay. Some people even say that eventually we might not even use cash anymore. So why do we use mobile payment if we can already pay with cash and cards? Because it is easier, better, and more secure, and it evolves every day.

rainmoney

Paypal is one of the original ways to pay on mobile devices, and even now is still widely popular. This allows payments to be made on Ebay, Walmart, and other sites without having the risks of using a card. You can also buy gift cards and use them in real life with Paypal. Now, there is a Paypal app where you can use it in stores you walk into. Authorize the merchant’s charge on your app, and the merchant chooses your photo as it appears on their registers. You can also just provide your phone number and PIN.

Many of these systems also update regularly. Paypal now allows paying through your bank account or card. And Google Wallet has become FDIC insured, something that other mobile systems lack. FDIC insured means that if Google, or the banks holding Google’s funds ever goes broke, then the government will be able to pay you back, up to $250,000 dollars.  Mobile Payments are so widespread that even online casinos now accept PayPal.

Apple Pay is a relatively newer payment systems for your device. Easy to set up and make purchases, you are able to use a variety of debit and credit cards, without having to re-enter shipping and billing information every time. This is considered very secure as your number is not stored. Instead, a substitute number is put in place that hackers and others can not do anything with unless they obtain your phone and fingerprints.

With all the talk and popularity of existing mobile payment systems, Microsoft has decided to get involved. Microsoft has announced that the Windows Phone 8 will come with a complete mobile payment system. This technology allows for an exchange of payments through devices over a short distance., and allows for online and in-store payments. It is also reported that Windows Phone 8’s payment systems have a wallet, to store credit and debit cards and frequent flyer accounts. This has prompted more interest in Microsoft from consumers.

Mobile payment systems are the start of the future. Not many consumers use cash in stores and it is not included in online payments. With credit and Debit cards, there is always a chance of them being stolen or hacked. With Payments being made through apps such as Paypal, this creates a net of safety for both the consumer and vendors during purchases. This type of technology is easier to sort through accounts and make payments to bills and keep important information safe. With its popularity and easy accessibility, mobile payment systems are becoming the best route for purchases to keep you ad everyone else safe and happy.  Apple Play still may have a lead in mobile devices, but I wouldn’t count out other mobile solutions from gaining ground.