Turn your mobile into your wallet.
As everyone knows, carrying cash is so last century. Consumers are increasingly embracing payment methods using their mobile devices, which are less likely to get lost and are seen as more reliable. But with so many technologies around, who should you trust with your money? Here are ten of our favourites…
Famous for its watches, Casio also makes EPoS (electronic point of sale) terminals where consumers pay for goods, and the company has recently announced it is teaming up with PayPal to create a new payment system using its mobile app.
First, the app alerts the user to nearby shops or restaurants that accept PayPal. Users can then ‘check in’ before they arrive, with their name and PayPal profile picture appearing on the Casio EPoS system – from there you can simply ask the staff to charge your bill to the pay-pal account, using the profile details in front of them.
Some services limit phone users to one particular OS, whether Android, Windows, or iOS. Magic goes beyond this though, and opens up mobile payments to users of any smartphone. Users simply need to point their smartphone at the Magic terminal and confirm the amount by entering PIN on their phone. Magic also includes loyalty points and customised coupons to encourage merchants and potential customers alike.
Co-founded in 2011 by two brothers from Ireland, Stripe is the one of the fastest growing international payments companies around, and was recently valued at $1.75 billion. The platform accepts 139 different currencies, including Bitcoin, and automatically handles all necessary conversions and performs daily deposits in its users’ bank accounts.