Smartphones have changed the way we live. They somehow replaced many things that we don’t even notice, such as watches, music players, and newspapers. What about our wallets? Are mobile phones going to replace them in the future? Well, let me introduce you this mobile wallet first, and then you can decide whether you agree or not.
Last month, Google just launched a new mobile payment system called, Android Pay. If you are a tech savvy, you must know what this revolutionary thing is, but if you don’t know anything about it, no worries, I will give you a brief introduction of mobile payment and this system.
Mobile payment is a payment service that can be done via a mobile device. Basically the only thing you need to do is to download a mobile payment app onto your phone, link your payment card to this system, and then embrace the era of the cashless future. With this system on your phones, you don’t have to bring any cash with you because your credit and debit card information are already “embedded in” this app. There are some mobile payment systems as listed below:
As you can see, there are five main types of electronic wallets, and each of them has its own uniqueness. Perhaps you have noticed that besides Android Pay, Google already has another service called Google Wallet, which is at the bottom left-hand corner of this graph. So why does Google needs a new digital wallet if it already has one? Here’s another mobile payment comparison graph.
The biggest advantage for Google is that its e-wallet app can be used on any device; nevertheless, other tech titans’ Wallet mobile payment platforms have still become more widely available than Google Wallet. That’s why Google created Android Pay.
Android Pay stores not only your credit and debit cards, but also your gift cards, special offers as well. It is definitely more secure than Google Wallet. Also, it will have more features, banks and store locations so that you can pay with this digital wallet anywhere and anytime.