Description
The increasing penetration of smartphones across the world, combined with the high-speed & reliable internet connectivity that is now available,…
Summary
- The increasing penetration of smartphones across the world, combined with the high-speed & reliable internet connectivity that is now available, has made it possible for financial service providers to enable payments via mobile devices.
- For instance, in the United Kingdom, NFC technology is used to enable contactless payments at bus and tube stations.
- Indeed, the cashless society is a nearby reality, and the usage of e-wallets and peer-to-peer mobile payment apps will continue to rise.
- PayPal and Alipay The pioneer and #1 - PayPal Elon Musk was very quick to anticipate and respond to the potential of money transfer through the internet.