With the growing popularity of smart phones and the increase in security, users feel more confident in mobile shopping. That’s why companies like Starbucks and Google want to create ways to simplify mobile shopping payment processing so that we can more easily adapt it into our everyday lives.
Starbucks tried to adapt an easier process for purchasing their products using mobile devices by implementing the Point of Sale (POS) mobile payment processing system at over 6,800 of its locations worldwide. This system allows users to create and submit their order with their smartphone, and all they have to do to pay for it is hold a barcode that will appear on their screen after the order is created underneath a scanner that is featured at specific locations. The payment system could be linked to your PayPal account, so that you could complete transactions quickly and securely.
Another type of technology being offered that can be used for mobile payment processing transactions is called Near Field Communication (NFC). NFC technology can be installed in smartphones and works similar to credit cards that are compatible with contactless card readers. All you have to do is store a credit card or bank account in your phone, launch the application that will communicate with the wireless card reader and your transaction will be completed through your mobile device.
At our digital marketing firm, we know this type of technology is going to change the way we shop for day-to-day products. The only question will be: as this technology becomes more common, what type of security will be available to protect users’ valuable information? In order for mobile payment processing to become accepted, users are going to have to be presented with a safe experience that won’t leave them vulnerable to being attacked by scammers. If this type of advancement starts to be used in payment transaction more frequently, a lot of money could be at stake for companies that develop these programs because they can help businesses save money on credit card processing fees, ultimately giving businesses a chance to be more profitable.