Mobile payment applications are becoming more and more popular. Thanks to technology such as Near Field Communication (NFC), modern smartphones can now replace credit and debit cards with fast contactless payments.
In this article, we will go over the main options available for mobile payment apps. More importantly, we will also compare their comparison.
In this article, Niketrainers.com.co will tell you:
Introduction to mobile payment solutions
Making payments using a smart device is a modern solution to the age-old problem: how to travel safely and lightly, while allowing you to make purchases. Your device, along with NFC technology, has a key.
An app on your phone detects a point of payment, typically a contactless card reader, and, like card payments without a PIN, processes the transaction. Payment is usually done immediately and your transaction history can be viewed through the app on your device.
For attorneys, being able to pay for items without cash or cards is a dream come true. However, for critics, the most important issues are financial and security issues. Regardless, mobile payment solutions will stay with us and technology will only get better over time.
Mobile Payment Clash: Google Pay vs Apple Pay vs Samsung Pay
There are currently three main competitors when it comes to mobile payment solutions. The options are presented in any order. We’ll see!
1. G Pay
Formally known as Android Pay and Pay by Google,G Payis the search giant’s approach to making mobile payments. It allows you to shop at selected retailers and online stores. However, in practice, it is practically everywhere.
This is of course an Android only device and you will need theofficial appto access G Pay.
Key Features:
- Compatible with virtually all Android devices that support NFC.
- To use it, you need to install an application that is only available on Android devices.
- It serves alarge number of retailersin “millions”.
Summary:Overall, G Pay is a mobile payment option for Android users. The good news is that the functionality is solid and most of the time it just works, although it takes longer to set up than other mobile payment systems.
2. Apple Pay
Apple Paywas one of the first mobile payment solutions on the market. No wonder it’s stylish and offers features similar to the competition.
Apple is known for its interoperability, and the mobile payment service does not disappoint. For example, you can pay for purchases in macOS Safari and send money to others via the Messages app.
You can also connect the service with Apple Watch and Apple Card. Overall, it is tightly integrated and feels natural to use.
Key Features:
- Compatible with NFC-compatible iPhones and fingerprint readers (ie, version six and above).
- Connects to Apple Watch for stylish payments.
- It allows you to pay in virtually any store and integrates well with macOS.
- Its initial circulation is higher than other solutions given the higher price of Apple devices.
Summary:Overall, Apple Pay has a foothold because of its time in the market. This means that you will be able to make payments regardless of the seller.
3. Samsung Pay
Our ultimate mobile payment solution is perhaps the least known of the three on this list. However,Samsung Payis older than G Pay and has a lot of grunts under the hood.
For example, you can add credit, debit, and loyalty cards to your digital wallet (although this is also present in other solutions). It can also be integrated with selected Samsung watches.
Plus, you only need one gateway to buy items with Samsung Pay. Also, if you make a payment with the wrong card, you can transfer amounts between your registered accounts.
Key Features:
- Offers powerful security optionsbacked by Curve.
- Works with any merchant that accepts contactless payments. This provides more flexibility than other vendors.
- Samsung offers a cash rewards system when using Samsung Pay, a unique Samsung feature.
- Samsung devices can be expensive. As with Apple, initial expenses can be expensive.
Summary:Overall, Samsung Pay offers great security and arguably more flexibility than the other mobile payment providers on this list. As such, it is a “black horse” among retailers, especially if you own a Samsung device.
Ending
Simply put, mobile payment solutions allow us to live with only a smart device on hand. A few years ago, you had to fix bugs and feature differences. However, now you will find that different mobile payment providers have close functionality.
In the meantime, you can use G Pay to track your expenses and help you budget.