Is the Ongoing Mobile Payment Trends Signaling a Card Less Future

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You must have observed the change in payment trends if you are an online shopper or pay bills online. Most of the e-commerce portals are now providing the option of paying through online wallets. As an online user, you no longer need to go through the tedious process of feeding in the credit /debit card details every time you need to make an online payment. All you need to do is to add money to any of the available online wallets and use it whenever you require. Some of the popular online wallet services are being offered by PayPal, VeriFone and few others.

With these services gaining prominence and users getting adapted to using them, it will not be an exaggeration to say that card-less days are ahead. With growing prominence of smartphones, the way payment is made, is bound to get affected. M Pos (Mobile Point of sale) has already been around which has turned hand-held devices like smart phones into m POS devices. By downloading m POS mobile app, the mobile phone can be used to process payments, read the bar code and even print receipts by connecting to a portable printer.

Trends of mobile payment in 2015

The statistics based on the recent surveys suggest that 43% of the consumers around the globe still prefer cards or net banking for payment. However, by 2017, more than 50% users are predicted to use mobile wallets for the payment.

♦ Mobile payments represent 3% of the total global e-commerce payments but it is expected to rise because of several players jumping into the mobile payment fray including Apple.
♦ The stupendous rise in the number of smart phones to more than 1.5 Bn, mobile payments through wallets and m POS is going to be affected big time.
♦ Wearable devices from Apple, Google, Samsung and other brands are also expected to usher in an era of mobile payments which will not require a debit or credit card.
♦ Facebook’s payment system, integrated with its messenger service is another revolutionary step towards making the payments card-less.
♦ With smartphones coming with NFC (Near Field Communication), it is now also possible to make payment to the retailers.
♦ Similar services are already being provided by chat applications like Snapchat, where the users can make payment to the person they are chatting with, by the click of a few buttons.

Also read: 11 Mobile App Development Trends to Watch Out in 2019

With mobile payment showing a promising future, it is the most likely to replace the bank cards as the most preferred way of payment. The fact that people are now using mobile phones to avail several online services like ticket booking, online shopping and hotel reservations etc,, substantiate the point that mobile payments have caught up with the consumers. It must not be seen as an end to the bank credit/debit cards but when it comes to availing online services, different ways of mobile payments will rule.

Enhanced user experience with Mobile Payments

User experience is the cornerstone of e-commerce and other online services. With heavy traffic coming from the mobile users, the businesses are constantly thinking of ways to offer exceptional UX to the consumers. The first step towards this endeavor is to provide mobile payment services so that the users are able to make payments easily through their wallets and are thus saved from the tedious process of entering the card details and wait for the security processes to verify the transaction. Making mobile payment is much easier as it is usually processed in a few clicks.


Like most other things, online payment has also not been untouched with the advancements in digital technology. The popularity of mobile payment is rising with each passing day and as mentioned earlier is expected to account for half the payments made online by the year 2017. Google Wallet, Verifone and Paypal have been around for quite sometime, the launch of Apple Pay is likely to establish Apple as a strong force in the mobile payment market and will generate work for app development agencies. With all these developments happening, 2015 seems to be the year of mobile payments. With most of the business sectors looking to target the burgeoning number of mobile users, the mobile payment trends indicates a steady upward surge.

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