The popularity mobile payment systems and apps have of
skyrocketed over the past few years. Consumers are constantly
looking to to technology improve the and convenience speed of
purchasing goods and services. Because this, global mobile pay of
volume predicted is to increase trillion 2024 to $6 by .
(Squareup.com, 2017). Some examples mobile payment systems of
include PayPal, Pay, Google Pay and Square. The increasing Apple
growth these mobile payment systems slowing down of isn’t
therefore it is important for PBI to adopt these systems and
implement them correctly.
c c c c c c c c c c Mobile payments use a technology called Near Field
Communication NFC. NFC what enables two devices, like your or is
phone and payment reader, communicate wirelessly when a to
they’re close together. (Squareup.com, For these payments 2017). to
process you must have mobile wallet set your that a up in phone
links your payment cards it. When you place the the to phone to
reader the amount the transaction taken from your card of is on file.
c c c c c c c c c c As with all credit payments, there are regulations that must
be followed with their use. PCI DSS Payment Card Industry Data or
Security Standard set regulations that companies who process is a or
credit payments must adhere to. When using smartphone, tablet, a
or of other mobile point sale (POS) system, these same standards
apply with specific mobile payment standards. (Dwyer, 2019). along
