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Posts Tagged ‘Banking Institutions’

Mobile Phone Payments

Tuesday, October 5, 2010
posted by Jordan

Many banking institutions, as well as phone manufacturers, are teaming up with application developers to create mobile payments.  Having to carry a physical credit card can often be a nuisance.  In addition, the loss of a card could lead to identity theft and other issues.

Mobile phone payments will allow users to swipe their device in order to charge their card.  This would reduce the amount of personal belongings that an individual would have to carry on their person.  It would also make the purchasing process much faster and more efficient.

In order to participate in these types of benefits, an individual would need to possess a functioning phone.  If there were a loss, theft or damage, then the owner would not be able to continue using their mobile payments.  The majority of people do not have the money for an unexpected repair or replacement of a mobile phone, so many have to live without one for months at a time.  However, mobile phone insurance can save time and money from only £2.49 per month!