New ways to pay in 2013: How mobile and contactless technologies are changing the way we pay
There are many new ways to pay for purchases with the technology you use every day. From mobile phone ewallets, to contactless cards and nearfield chips, cash payments are becoming a thing of the past. Interested in how the latest technology can change the way you pay?
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19 March 2013
New ways to pay in 2013
Mobile and contactless technology is transforming the way we pay- and making life easier!
Contactless cards are set to revolutionise the way we pay for purchases, from coffee and newspapers, to groceries and transport. “Tap and go” payment systems, as they are also known, are cashless, and allow you to pay by simply tapping your credit or debit card across a special till reader, without having to enter your pin. You can pay for purchases up to £20 in value, but this limit is set to increase. The cards are now available from mot major high street banks, including Barclays and Lloyds, and are available for both debit and credit cards. Tap and go cards are quick and easy, and thousands of retailers already accept them. With many more set to adopt the technology this year, contactless cards are rapidly establishing themselves as the future of retail payments.
Have you ever wished that your current account was linked with your mobile phone? With Barclay’s Pingit app, this is now a reality. Anyone can register and use the app to send up to £750 a day using their mobile phone, without having to login to online banking or share anything other than your mobile phone number. It’s quick and easy, and available to everyone (not just Barclay’s customers). Pingit is secure, and doesn’t share your account details with anyone, and is quick and easy, making it a great option for sending cash to friends and family.
Near field solutions
Turning your phone into a payment device has been touted as the next big thing by retailers and mobile phone manufacturers. Using near field chip technology, any phone can be turned into a contactless payment device, and be used just like a contactless card in any retailer that accepts them. The only drawback is that you have to attach the chip to your phone yourself, but they are ideal if you are on the go and don’t want to have to rummage around for change when making a quick purchase.
e-wallet solutions/mobile device solutions
E-wallet technology has been around for a while, but is seeing an increase in popularity since many mobile networks, like O2, and even Google, have launched e-wallet smartphone apps. E-Wallets allow you to set a master password, and access your bank details, credit cards, and other important information all in one place on your phone. The apps allow users to upload money from their debit card, with cash, or by text message, and sync it directly with your e-wallet account. Once the transfer has been made, you can pay for almost anything using your phone! More than 100 retailers have already signed up to the service, and there are even plans to add an option for buying train tickets instantly in the works.
These new payment options are secure, reliable, and fast, and are revolutionising the way we pay. Compare credit card options now to find the right card for you >>