What are mobile web payments? Simply put these are payments, which are done using a mobile device. As shown in the graphic electronic payments have risen in recent years will continue to rise. A large area of growth in electronic payments will be mobile electronic payments. Mobile payments can be made in many different ways and this plays a part in its growing popularity. However, when the term ‘mobile payments’ is mentioned we tend to think of mobile web payments. This method of payment works in a similar way to online payments made from desktops or laptops users find this method very easy to use.
Source: World Payments Report Accessible: https://www.worldpaymentsreport.com/The-Convergence-of-E-and-M-Payments
Another common form of mobile payment in Ireland is done using online wallets. However there are also several payment options, which are not so widespread in Ireland but are popular elsewhere. SMS payments for instance – whereby the customer uses text messages to send a payment request for goods they want to purchase. The merchant (from whom the purchase was made) then releases the goods, which have been paid for. The customer is billed for this on their monthly phone bill. Due to the slow and at times unreliable nature of this method of payment it is not widely used where ICT infrastructure is well developed.
NFC (Near Field Communication) – this method involves using a smartphone with a smartcard and paying by touching a reader. This is done in a very similar way to contactless payments with Visa cards. This method would typically be used for smaller purchases with the main advantage being the speed of the transaction.
QR Code payments – although QR codes have been around for a very long time few people know their purpose. By linking a credit card or debit card to an application users can use their smartphones to scan QR codes and add them to their shopping cart. In South Korea a comprehensive QR payment oriented campaign was launched by TESCO or HOMEPLUS as it is known in South Korea,ee how it works in this video.
Easy Payments Plus uses responsive web design, which means regardless of whether our site is accessed on a laptop, tablet, or smartphone that scrolling and resizing are kept to a minimum. This means the site is easy to navigate and payments can be made quickly.
Another form of mobile payment is performed through linking a physical chip and pin pad to an application on ones smartphone, allowing the seller to input the amount due for payment using the app and then purchaser can put their card into the chip and pin pad, enter their pin and pay instantly.Click here to see a video explaining how this works.
With many sites employing responsive web design now customers can pay just as easily on a smartphone as a laptop with the added convenience of paying on the go, productively using their waiting time. This is the main advantage of mobile payments and as a result of this convenience we can expect mobile payments to continue to rise as predicted in the World Payments Report.