Who here rarely holds cash because they often use digital transactions? That means you are already literate with mobile payment methods. In some countries, it turns out that mobile payment users are increasingly widespread. The pandemic situation has made more and more digital wallet startups appear. All claim their app users are increasing.
Data from Baco.Inc in 2021 reveals that the number of e-wallet users in Indonesia has reached 73%. It is not impossible that this number will continue to grow.
So, what are the reasons people switch to this payment method? Let’s talk!
What is a Mobile Payment Payment Method?
Mobile payment is a form of payment method using portable electronic devices such as tablets or mobile phones. In addition to payment transactions for products or services, mobile payments also function to send money to other people. Examples include PayPal, Dana, GoPay, OVO, ShopeePay, and many others.
Similar to credit cards, this payment system, which was initially more familiar in Asia and Europe, also offers a transaction experience without having to take out your banknotes. So no need to worry about missing your wallet!
History of Mobile Payment Development
Initially, this payment method was sent using text messages. Along with the development of technology, transactions can then be carried out by taking pictures of the check through a cellphone camera, then sending it to the payee. This technology has finally developed into a mobile check deposit in banking applications.
In 2014 the emergence of applications such as PayPal, Apple Pay, and the like gave birth to an even easier payment method, namely via QR Code. You just point your cell phone camera at the special barcode and the transaction is complete. This trend continues to expand until it is increasingly in demand by the world community.
Benefits of using Mobile Payment
Of course, there are many benefits of using this payment method. Besides being simpler and faster, the level of security for your money from criminal acts such as pickpockets will be lower. People will also find it difficult to see how much money you have in your wallet.
Meanwhile, payment methods using the touch ID system such as scanning a fingerprint or entering a pin, make mobile payments more secure than physical credit cards. You see, there is an individual security code for each transaction.
How is a Mobile Payment Security Guarantee?
Usually, money service businesses need to be licensed in the country where they run their services. Local countries also usually provide a list of rules that must be obeyed regarding suspicious activities, including money laundering. Plus now the technology in smartphones is getting more sophisticated. Applications on smartphones are now able to facilitate direct connection and authentication of payers and recipients.
In the end, mobile payment is not just a trend for safe payment methods for consumers. For those of you who have a business and already provide mobile payment services, of course, you will benefit too, right?
The level of customer satisfaction with your business will increase. Because who doesn’t want a payment method that is simple, fast, safe, and practical.
You need to be aware, payment methods like this are also included in a good business strategy. If done right, your business has the potential to grow and more customers will come.