Different types of mobile payments explained

Mobile payments refer to any payment made using a mobile device. Due to our ever-increasing smartphone dependence, many ways have been developed to allow consumers to pay conveniently through a phone.

To put this in perspective, statistics show that a third of UK consumers are now using NFC-enabled phones for contactless payments in stores. Apple Pay, with their ‘limitless’ transactions, has even caused a 11% increase in the average mobile transaction total in the last half of 2017, as more and more people feel secure using their smartphones for point-of-sale transactions.

 

Mi-Pay Group (LON:MPAY) delivers fully outsourced online and related payment solutions to digital ecommerce clients, primarily in the mobile sector. Its product offering provides the infrastructure to enable pre-paid mobile devices to be topped up via a variety of channels such as websites, mobile applications and social media applications and customers include Mobile Network Operators (MNOs) and Mobile Virtual Network Operators (MNVOs). Mi-Pay sells, integrates and operates its products and solutions on a global basis. For further information, please visit www.Mi-Pay.com or contact details as shown above.

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