5 Things you Should Know About Payments Apps  

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paying with the phone

Lately, we are witnessing the changes in the finance world, we’re everything we have is on our mobile. the payments app is making a distribution in our world not only the finance. So, why are we rushing and signing up for each payment app?

woman paying

So, if you are not aware of what I am talking about, make a quick search on google and see the number of results and articles you get there.

In the last 2 years with all the distribution there is, we are seeing a rank in the payment’s app almost from every company or bank that “respect” itself you can expect them to have one of their own and if they don’t have it yet they will soon enough.

cash

During traveling I try to avoid using cash and recently even a credit card, for me, I invest in the best smartphone I can afford to avoid having anything else.

And what I learned from my last travel is that there’s a lot of payment apps out there and it’s a world I can’t realize how it’s going to control my life, and here are 5 points you should understand about it

smartphone and paying

  1. Database
    Each app we sign up to keep our information and in a way, can reach out later and “personalize” ads. So, imagine all the data being kept from our transactions and how it could be used. As far as I know, they’re still no regulations about this subject and probably it will get the latter. It’s the biggest war our generation is yet to experience in a way, and if you pay attention you might make more from it.phone next to a laptop
  2. All In

It’s not only the banks that are looking to have their own payments app, but it’s also the big companies to like Google, Apple, and Facebook. Everybody sees the potential of laying there and wants a piece of it. Remember it’s a database fight.

  1. China to set the tune
    China is the biggest place when it comes to innovation and she’s the first country to adopt this method. China is relying only on payments apps, everything happens from your smartphone, there’s no need for anything else to carry on you. You can read more about it here >>
    paying with the phone
  2. Makes traveling easy
    It happens more than once that your credit card isn’t working when you’re traveling and you’re always ashamed in a way and not sure how to respond, except saying: “sorry, not sure why it’s happening”. And most likely that you’re right but it’s still embracing and just thinking of a way to avid it will raise a smile on your face.pay
  3. No more boundaries
    thinking about the revolution that was made by PayPal, get you thinking about would happen when Payments apps such as Google, Apple, Amazon will be available in every country. It means that I’m from London and will be paying someone from a different country or content for a service I was given or giving back money I was given in a time of need.

I can share with you my excitement and how happy it would make me as a traveler, yet I wonder when will someone make it “safe” for us as citizens and would it be us who pays “extra” taxes for it or will it be the bank and companies. We sure should keep learning about this and understanding how does it work and how will it affect our lives.

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Natalie Alz

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