Digital Wallets: The Future of Payments

USING DIGITAL WALLETS IN 2015 We use our smartphones to get directions instead of maps, and take photos of our loved ones instead of using a camera. So why not use it to pay for items instead of our credit cards? You're in luck because digital wallets and a variety of digital wallet applications are here. If you're interested in the one-tap payment technology, here are five digital wallets to consider using: é Pay Add a new Credit or Debit Card APPLE PAY and in apps without swiping your card or entering your card and shipping detals. Apple Pay uses a tap-to-pay technology with security features that you can use to pay in-store or within apps linked to your debit or credit card.1 You can access Apple Pay through Passbook – an app pre-installed on all Apple products using iOS 8. Fact: Your credit or debit card number is never present on your Apple device through Apple Pay. It creates a unique number each time you make a purchase. GOOGLE WALLET Google Wallet is a tap to pay technology that makes it simple to pay in-store or online using your email address, which is linked to your debit or credit card.? Fact: You can make purchases on Google Wallet without the use of a pin number. SOFTCARD Softcard allows you to pay for purchases by adding your American Express, Chase or Wells Fargo credit card to the app. Whenever you see the NFC (near field communication) technology, you can use this app anywhere you see the contactless symbol to make a payment. Fact: You can now pay with Softcard at over 200,000 local and national merchants in the UK. LOOPPAY LoopPay works with a smartphone app combined with a Loop device. They work with thousands of credit and debit cards for the user to be able to use tap-to-pay technology securely with its patented Magnetic Secure Transmision (MST).4 Fact: LoopPay works with 90% of retailers around the globe! PAYPAL PayPal is a service that enables you to pay, send money and accept payments without ever revealing financial details.5 Fact: PayPal currently has over 18 million customers in the UK; their second largest market globally. References 1 Apple Pay. (2014). Your wallet. Wthout the wallet. Retrieved December 19, 2014 from http://www.apple.com/apple-pay 2 Google Wallet. (2014). Frequently asked questions. Retrieved December 19. 2014 from http:www.google.com/wallet/faq.html 3 Softcard. (2014). Learn more. Retrieved December 19, 2014 from https:/www.gosoftcard.com/leam.html 4 LoopPay. (2014). How it works. Retrieved December 19, 2014 from http:/www.looppay.com/how-it-works/ 5 PayPal. (2014). Paypal. Retrieved December 19, 2014 from https:/www.paypal.com/webapps/mpp/paypal-popup QuickQuid NFC