Everyday expenses are made more and more with the smartphone. Directly in the shop or remotely, but still without having to pull out the wallet. It is a trend that grows year by year in any country and it is an accurate picture of the evolution of the purchasing habits of people who, by now, never separate themselves from their mobile phones.
According to statistics, “proximity payments” in stores doubled up in less than a year, and big part of this is represented by payments with mobile phone or smartwatch. The so-called Mobile Proximity Payments grew hugely compared to only one year ago. And not only the number of people who use the smartphone for purchases has more than doubled, but the average annual expenditure has greatly increased too. A sign that the perception of the security and reliability of digital payment systems has also increased.
There are indeed many things that we can buy with our smartphone or smartwatch, and security is obviously of paramount importance. Many of the major banks’ credit, debit and prepaid cards are compatible with the main mobile payment services, which include Google Pay, Apple Pay, Samsung Pay, Garmin Pay and Chase Mobile among others. By combining our card with mobile payment services, the data in our card will always be safe. In fact the payment system of our choice will encrypt the newly tokenized card and when we make a purchase, we tap on our mobile device on a point-of-sale terminal or choose to pay in our mobile app, the payment system will respond with our tokenized card and a cryptogram which functions as a one-time-use password. This way our card details are never at risk, because they will not be actually stored on our device or transmitted somewhere else while making a payment. Our purchases in stores, apps or on the web are easier, safer and more confidential than ever.
But what do we buy with mobile phones or with “wearable” devices such as smartwatches?
According to reports there are 5 things that we now pay more easily without using physical money, some of which it would have been unimaginable to pay for with a simple click on the phone or with a “watch” until just some time ago.
A Hot breakfast after the daily jogging routine
I am certainly part of the statistics. I can’t start a day without my “wake-up” jogging training session at the park. I used to take with me my cell phone and wallet, but those days have past, I can leave them at home now, wear my smartwatch, and still enjoy a good cappuccino after the run.
A meal at home
After a long working day how many feel like only thinking to cook a meal or running to a grocery store? How many really want to go out when they are watching a thrilling sports match on TV or the last episode of their favorite TV series, and feel the urge of a good slice of pizza or a spicy Chinese dish? Home service is the answer. We can now just choose the delivery service and our favorite restaurant on our mobile phone to proceed with the order. There are abounding apps that allow just that.
Through the app of the service company, in a moment we can buy the ticket on board or right before boarding. We all can now take the bus or train on the fly. We no longer have to worry about anything because our ticket is always at hand, at all times and wherever we are. We do not have to physically go anywhere to buy our ticket, no exhausting research anymore when we are up late at night. The ticket is as far as our smart device.
Taxi and Driving Services
And if we do not want to take the public transport we can always take a taxi, or hire a Uber driver. A simple touch on the watch screen and we are ready to go.
E-sharing services play nowadays an important role in city mobility and for that they represent a big part of mobile payments. The use of a smartphone or smartwatch for payments is very practical when we move frantically in the city. The sector is experiencing a huge growth, also because, as part of the sharing economy and sharing resources philosophy, has evident environmental and sustainability contributions, especially when we rent electric cars, bicycles or scooters.
Besides, also parking in the city can be conveniently paid with the smartphone. No more worries if the ticket is expiring and we are far from the car, just one click and we can renew our ticket, without interrupting our walk or our shopping.