With an ever increasing move towards a “cashless future”, modern day technology has resulted in a switch from cash to cheques, to credit cards and debit cards, and now to online banking and mobile commerce.
Mobile apps, largely available on smartphones, including Barclays Pingit and PayPal have meant that the transfer of money from one to another has never been quite so easy.
Barclays Pingit is the new mobile payment service from Barclays that allows you to send and receive money using just a mobile phone number. After simply inputting a passcode, the user can then chose to transfer money to anyone of their choosing. Pingit has made the digital transfer of money easier than ever before, questioning whether or not mobile phones have the ability to replace credit and debit cards for good.
However, it’s not just mobile applications that question the possibility of a cashless future, smartphones are also now being used as card readers. Credit card machines are expensive and generally too big to carry around. So, what happens if you have no cash and those who you are attempting to pay have no card machine? Well, credit card reader devices have been developed for smartphones, which once plugged into a smartphone, can accept credit card payments right away. Authorization of the transaction is done with the customer’s signature right on the mobile screen and receipts can be mailed to them for safekeeping. These readers are small, enabling them to be carried around everywhere.
Another technology enabling the advancement to a cashless future is the “cashless wallet”. By downloading an app onto your phone, you can link the service or app account to your bank account or payment card. With that done, you can start paying for your goods and services with your digital wallet. If your digital wallet is an NFC enabled Android phone, you can place your smartphone at the card terminal at the checkout counter, like you would with your debit card. Apps including Google’s Google Wallet, turn the common wallet digital.
It’s clear that technological advancements have not only digitalised payments and thus, the ease of both sending and receiving money, but technology has also increased the ease of everyday living and working.
Clients using our Virtual Call centre can have a fully integrated level 1 PCI compliant payment within their systemwhich allows their agents to take paymenst from anywhere with no risk.