Mobile payment is a transaction provided through a mobile device, frequently a smartphone. Consequently, one needs neither cash nor credit cards.
One of the key advantages of mobile payment is that you can make payments both offline and online:
- A user can bring a mobile device to a contactless payment terminal.
- A user can make purchases in applications and directly via the Internet.
With the development of mobile payments in the business areas, merchants can significantly simplify and speed up the process of online payments.
Besides the convenience and comfort of purchasing goods on the Internet for their customers, ones receive a conversion growth. The implementation of mobile payments will allow:
- Increase brand loyalty. Customers will no longer have to remember their cards or answer questions related to security checks. Transactions are made literally in one touch, which simplifies and accelerates the purchase process.
- Improve business competitiveness. Mobile payments allow you to optimize interaction with customers: send special offers and recommendations, save loyalty cards, purchased tickets, etc.
- Increase online payments. Mobile payments mean a more comfortable and more convenient way to pay for goods/services.