Mobile Payments Revolutionizing How You Spend

It’s happened to SwapCell. Cart full of groceries, cashier tells me the total, I do the man Macarena, patting all my pockets only to find my wallet isn’t there. Normally this is where you say something along the lines of “uhhhh” and walk away embarrassed. But, luckily I had installed Samsung Pay on my Galaxy S8 a week earlier, it was my first time trying it and to my pleasant surprise, it worked!

The convenience factor of having all your credit and debit cards loaded up on your phone cannot be underestimated, but the real reason you want to get on board of the mobile payment bandwagon is security.

Personally I have had 3 credit cards frozen over the past two years due to fraudulent purchases, and the benefit of mobile payment security is simply – even if there is a bad guy on the other end waiting to steal your credit card information when you swipe, there really isn’t anything for them to steal. How Android Pay, Apple Pay, and Samsung Pay work is that they take your credit card information and encrypt it and essentially create a new credit card number that your device uses. So the credit card number that is ultimately swiped is different from your physical card, and if someone were to maliciously try to use that credit card number, it would be immediately declined, because it doesn’t truly exist outside of your phone.

There are some additional benefits of using the mobile payment methods. For example Samsung pay offers a rewards program on top of what you already receive from your current credit card provider. So if say Capital One gives you double miles on every purchase, you still get that, PLUS Samsung rewards points that can be used on items such as gift cards or prepaid visa cards. Another benefit is location based shopping- by turning on location services Samsung Pay will be a local search of merchant partners offering deals when using Samsung Pay. By firing up my app right now I can tell you Dunkin Donuts is offering 20% off $25 gift cards if I were to use Samsung Pay to purchase it.

So if you’re out doing your holiday shopping this year, make sure you install one of these payment methods on your Android or iPhone to avoid the scammers as well as to score some killer deals on gifts.

%d bloggers like this: