Mobile Payments Are Becoming An Upcoming New Trend

12. _________________ is a technology that allows cardholders to make purchases with a single click from their mobile devices.

The future of payments is current shifting to another path with how technology is changing and is currently modifying how we process our payments and how we store data. It is going away from low-tech and paper based tools, expensive and bulky registers, and physical card swipes. And it is introducing and renovating online commerce and online payment. This is happening due to the decrease of money supply and checks in the current market because people are starting to pay more and more there bills online. As the economy improces and corporations and business gets larger they have started a large-scale implementation of processors in electronic payment technology in their business ands services. Also, credit and debit are growing amongst consumers and it has been the highest that it has even been in history.

As technology advances over the years, we have experienced and noticed that the trend in how payment are received have shift tremendously. Twenty years ago, check was the preferred way of payment. In today’s world, more and more payments are done by credit cards. Credit card transactions are instance that provides a faster payment method.

Although major retailers have had credit card breaches, which devastated consumer trust in credit, Mobile payment systems stay efficient, but risk personal and financial data fraud similar to plastic credit card usage theft. Patrons fear merchants can track your shopping habits, location and financial records using a mobile GPS signal. Nevertheless, worries that someone can steal their information when sent wirelessly therefore consumer confidence remains low. Thorough safety measures will help give customers composure and regain assurance. (Busby, 2014) (Sapienza, 2013)

Introduced in Week 3 my company, ZapIt Incorporated, has created a smartphone mobile application, to be used by consumers to make grocery purchases and leave without having to wait in a checkout line. The ZapIt team strongly believes this application will be a game-changer in the

Payment processing has become more universal. Each transaction, whether it's in-store, eCommerce or mobile, needs to deliver a seamless integrated buying experience at any time of the day and on any device being used.

According to the most recent Federal Reserve study; most of us haven’t set foot in a banking hall in ages. It is a lost battle to banks that opt to use traditional methods to conduct their banking transactions (Gup 2003). By December of last year, close to half of all smartphone users in the United States had transacted some or all of their banking on their phones and iPhones. In the United Kingdom alone, rates of mobile banking transactions doubled over the course of a single year (Scn Education 2001). A banking business that invests in this type of technology gets assured of increasing their customer base.

there is a new world alongside this of mobile payments. Apple pay and Android pay are

Smartphones and tablets are anticipated to grow and play a bigger role in how people are shopping. Mobile offers customers the convenience of mobile ordering and helps to create customer loyalty since they will be able to track past and present orders all in one places (Vine, 2015).

. Mobile payment users >190 MM in2012, which is over3 % of total mobile users worldwide a level considered as "mainstream”

In many developing countries it's common for a person to have a mobile phone but not a bank account. In fact, more than 1 billion people fit this description, and the number is only likely to increase. To that end, many companies are considering how to give residents access to banking services via their handsets. The GSM Association predicts that by 2012, nearly 300 million of the previously "unbanked" will be using some form of mobile banking.

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Almost everyone has a smartphone, so engineers invented a way to let merchant charge customers through a device that can be attached to any mobile phone. This device, or credit card terminal, is the future of credit card terminal technology, where merchants can charge customers anywhere and anytime [3]. This report will present the market analysis, theory of operation, and the device performance of Square.INC credit card reader [3].

The last decade has witnessed a lot of growth of mobile communication devices and wireless technologies across the globe. This has led to a change in the way many activities are conducted and opened the way for m-commerce, which is e-commerce's next evolutionary stage. The significant power of m-commerce is primarily as a result of the ability to connect wireless devices anytime, anywhere (The Future of Mobile Payment Systems : Rise of the Mobile Wallet 2012-2017 [Electronic version], 2011).

Mobile banking is well utilized in countries of Europe and even Japan, yet it is slow to catch up in America. A study by Forrester Research found that only 10% of Americans like the idea of m banking while 35% already bank online