3 Mobile Payment Systems That Every Business Shouldn't Miss

Saturday, March 27, 2021 - 3 min read

Mobile phones have gradually occupied an important position in human lives. We can leave our house without anything except for our phones - they are not only communication equipment but also navigators, cameras, recreation resources and more.

Recently, with mobile payment systems, mobile phones are even replacing the function of a wallet. In this article, we’ll dig deep into three different kinds of this method.

Apple Pay

Created by Apple, this mobile wallet reached more than 380 million global users in 2019 and still develops its popularity day by day. In general, Apple Pay takes three main forms: in-store, online stores, and through apps.

1. Apple Pay.jpg

Some of the benefits that Apple Pay offers are:

  • High Speed: Compared to regular credit card payment, the payment process of mobile POS loads faster, therefore enhancing your customer shopping experience.
  • Convenience: As I mentioned above, people can forget their wallets at home but rarely leave their phones behind. Moreover, is it easier to pay by phone instead of digging the wallets for cash or credit cards?
  • Security: This is the greatest benefit when using Apple Pay. It is a highly secured method with tokenized data and verification protected by password or fingerprint.

Google Pay

Google Pay is the final product after merging the features of Android Pay, Chrome’s payment and Google Wallet. Google Pay can be accepted in-store or as a payment method on online stores.

2. Google Pay.jpg

Some of the benefits that Google Pay offers are:

  • Loyalty Program: Every time you give a loyalty card to customers, they can store it in their Google Pay account. Their loyalty points gradually increase and can be redeemed in the next check-outs.
  • Gift Cards: Similar to loyalty cards, gift cards could be synced to Google Pay as well.
  • Store Locator: Google Pay allows users to view all of the businesses nearby that accept mobile payment. Once you offer Google Pay for your store, you will appear on the list and attract potential customers.

Samsung Pay

Samsung Pay works as the two payments above, apart from the fact that it’s only available for users with particular Samsung devices.

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With that limitation, Samsung Pay still wins the hearts of many customers thanks to its ability to sync with most of the terminals, even the old ones that Apple Pay and Google Pay can’t be used.

Another bonus is the rewards system applied for Samsung Pay. People get points after using apps, then can take rewards from their total points.

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