A few years ago, paying with your smartphone seemed an extravagant or futuristic idea. But nowadays, we know that a world without coins and credit cards is quite real. Buying a dress, a pair of shoes or a gift through an application is possible but, more importantly, it is now a secure act. This year for the Christmas holidays , it will probably be the first time we experience such a phenomenon of shopping gifts by mobile applications , combined with mobile payment.
Applications to pay with your mobile: payment types and technologies
When we talk about apps to pay with your phone , you have to differentiate between two categories:
- Of payment
- Technology used to make payment with the phone.
If we talk about payment type , we have to differentiate:
- Apps that pay for in-store
- Money transfer applications from one smartphone to another.
- Apps to pay through a phone credit service.
The first and the third type (apps that pay for in-store and apps to pay through a phone credit service), will be the focus of many Christmas shopping. However, you should know that these applications are available only on Android or iOS, not on Windows Phone .
The most used methods for mobile payments
The most used technologies to achieve payments on smartphone are for the moment two in number:
Near Field Communication (NFC)
This communication system , known as NFC , is based on short-distance communication. It is an open platform for mobile phones and devices, which has increased the possibilities of contactless technology and which until now has been diffused in card payments. It is interesting to note that Contactless means “contactless”. As it is possible to exchange information at short distance (4 cm) and in wireless mode, this allows the transaction to be completed in a few seconds . This system is similar to Bluetooth technology and allows the user’s phone and the store’s payment terminal to communicate with each other. But, to work, the NFC requires the smartphone to have a 4G NCF SIM card .
Today, it is already obsolete , because with the simple download of an application it is possible to make many payments with his phone.
These acronyms mean “Quick Response” and this system is mainly used by some banks. The main feature is that it can be read in several directions , unlike the reading of traditional bar codes, which is only horizontal. To pay with the mobile phone through this method, simply frame the QR code printed on the ticket and the application will save the operation in the current account connected to the application.
The advantage of this method of payment with the mobile compared to the NFC is that it is sufficient to have a smartphone with a camera and not a smartphone with NFC technology. It is currently difficult for a mobile phone not to own a camera.
The most known apps for mobile payments
Apple Pay is the result of the union of Touch ID, Apple Wallet and NFC technologies. Since Cupertino, they have succeeded where Google failed with his Wallet . This Google technology, launched on the market in 2011, proved to be too revolutionary at the time. At that time, there was only one smartphone with NFC technology and too few stores adapted to this system.
Apple Pay, included in the iPhone 6 and iOS 8 , is Apple’s contactless payment system. It allows users to pay for mobile purchases directly from an iPhone, Apple Watch or iPad. To do this, simply bring the device to the payment terminal via the NFC connection of the store.
In addition, Apple Pay uses a unique device number and a unique transaction code to ensure service security. Thus, the credit card data are not stored on devices or Apple servers.
Paypal Mobile is an app developed by Paypal that allows you to send money, receive payments and make online payments with your phone . It is available on Android and iOS and its operation is very simple: just enter the number or e-mail address of the person to whom you want to send the payment.
The transaction is free if the Paypal credit is used, but a commission of 3.4% plus a fixed fee of € 0.35 is added if the credit card linked to the account is used. In addition to this, when you send or receive money or make purchases and payment with your mobile via PayPal, you will be sent a push notification. You will also be able to manage your bank account, your balance, and your card.
Finally, you may be interested in the fact that it is possible with PayPal to make his Christmas presents to his friends and family directly from the app.
Jiffy is an application that is used to transfer and make payments with his phone, compatible with iOS and Android . To activate it, you must have an account in one of the banks with which the application has an agreement , and register. Once the application has been downloaded and the service activated, it will be possible, via the bank, to associate the telephone number with the account’s IBAN.
However, you must know that to receive money or make a payment with your phone through this application, the recipient does not need to have downloaded the application itself. This means that Jiffy has the potential to reach 34 countries and more than 400 million current account holders