BUILDING SUPPLY INDUSTRY ASSOCIATION - Spring 2019 - 22

TECHNOLOGY CORNER
BY THE ACCEO TENDER RETAIL TEAM

©ISTOCK.COM/ZORANM

|

HOW OUR MOBILE
PHONES ARE
METAMORPHOSING
PAYMENT SOLUTIONS

C

ontactless cards, digital
wallets, mobile payment:
Our purchasing habits are
undergoing persistent changes
with the advent of innovative
technologies. It is expected
that mobile payment will be
outrunning other payment
methods in the near future.

To fan out skepticism and doubts,
and to bring answers to users, it
is recommended that the latter
get to the very core of all facets of
mobile payment to make the most

22

NEWS MAGAZINE | BSIA NEWS | SPRING 2019

of it and take cognizance of possible
drawbacks.

What is mobile payment?
Also called mobile wallet, mobile
money transfer or mobile money,
mobile payment refers to the
transactions made from or received
by a mobile device. This point-of-sale
(POS) transaction is becoming very
popular among consumers for its
high level of security and unrivaled
convenience. The consumer simply
has to bring their mobile phone near
the retailer's terminal.

Renowned companies that offer
mobile payment solutions are
Apple, Samsung, Google, Android,
PayPal and Square. To operate,
mobile payment requires Near Field
Communication (NFC), Bluetooth,
Wi-Fi and Radio Frequency
Interference (RFI).

Mobile payment offers
numerous advantages
Most fears and concerns regarding
mobile payment are generally
exaggerated. Unlike other modes
of payment, mobile payment offers


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Table of Contents for the Digital Edition of BUILDING SUPPLY INDUSTRY ASSOCIATION - Spring 2019

https://www.nxtbook.com/naylor/BSPS/BSPQ0320
https://www.nxtbook.com/naylor/BSPS/BSPQ0220
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https://www.nxtbook.com/naylor/BSPS/BSPQ0419
https://www.nxtbook.com/naylor/BSPS/BSPQ0319
https://www.nxtbook.com/naylor/BSPS/BSPQ0219
https://www.nxtbook.com/naylor/BSPS/BSPQ0119
https://www.nxtbook.com/naylor/BSPS/BSPS0518
https://www.nxtbook.com/naylor/BSPS/BSPS0318
https://www.nxtbook.com/naylor/BSPS/BSPS0218
https://www.nxtbook.com/naylor/BSPS/BSPS0118
https://www.nxtbook.com/naylor/BSPS/BSPS0617
https://www.nxtbook.com/naylor/BSPS/BSPS0517
https://www.nxtbook.com/naylor/BSPS/BSPS0417
https://www.nxtbook.com/naylor/BSPS/BSPS0317
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