Five Payment Predictions For 2015
#3.Smartphones will begin to replace your wallet
With the number of smartphones worldwide, Mobile payments are likely to see a major growth in the future. Earlier it was a very small percentage of people who used mobile payments. Now it is being adopted all over the world in different ways. Mobile payments are mobile money, mobile money transfer, and mobile wallet generally refer to payment services operated under financial regulation and performed from or via a mobile device.
Apple pay is a mobile payment service that lets certain Apple mobile devices make payments at retail and online checkout. It intends to digitize and replace the credit or debit magnetic stripe card transaction at credit card terminals.
#4.Chinese payment providers come of age
Alipay, Tenpay are the mobile internet payment markets in China. With over 300 million users, Alipay remains the market leader in China's third-party payment market based on the number of total transactions. While Alipay and Tenpay provide an online payment interface between business clients and consumers, which allows consumers to shop online.
#5.Contactless will leave cash in the shade
Contactless payment systems are credit cards and debit cards, smartcards or other devices that use radio-frequency identification for making secure payments. The embedded chip and antenna enable consumers to wave their card. Some suppliers claim that transactions can be almost twice as fast as a conventional cash, credit, or debit card purchase. No signature or PIN verification is required.
