Money On the Go, Part 2: The Tap-to-Pay Revolution

In part one of this series, Money On the Go: Best Money Management Apps, we covered the benefits of using personal finance management apps such as Mint and Pageonce. In this post, we will examine another series of apps that have been developed to simplify interactions with your money—only this time the technology is intended to help you spend it!

 

Select, Tap and Go with Mobile Payment

 

An exciting technology called Near Field Communication (NFC) is being used to add yet another can’t-live-without feature to our phones… mobile payment. With this innovation, paying at your favorite stores is as simple as selecting your payment choice, tapping your phone to the checkout POS terminal and going on your way. With the backing of heavy hitters such as Starbucks®, Verizon Wireless™ and Visa®, revolutionary mobile apps such as Google Wallet and Square Wallet offer secure, virtual storage of your credit and debit information in one convenient place.

 

Google Wallet

 

A leading adopter of NFC technology with hundreds of thousands of merchants across the U.S., Google Wallet securely stores your credit and debit card information for quick access when shopping either online or in-store. And to make things even easier, your Google Offers automatically sync to your phone so you’ll never miss a deal!

Available for Android™

Cost: Free

 

Square Wallet

 

Fresh off a newly inked deal with Starbucks, and with influential investors such as Visa, e-payments provider Square is an up-and-coming force in mobile payments. Unique features to Square Wallet include voice activated hands-free payment and the added security of having your picture transmitted to the cashier’s terminal for visual confirmation.

Available for Android and Apple™ iOS devices

Cost: Free

 

Isis Mobile Wallet

 

The result of a partnership between Verizon Wireless, AT&T® and T-Mobile®, the recently-launched Isis Mobile Wallet delivers convenient organization of payment cards, discount offers and even loyalty cards. Don’t want to load your credit card information into your phone? No problem, simply load funds onto the virtual Isis Cash™ card and you’re set to go.

Available for Android

Cost: Free

 

Is the End Near for Traditional Wallets?

 

Mobile payment is an exciting innovation delivering unrivaled convenience for consumers, whether it be paying for a cup of coffee, or redeeming the benefits earned from a loyalty card. As the technology continues to evolve with major forces such as Google leading the way in app development, and more retailers from Macy’s to OfficeMax® adopting it, the end of fumbling through a wallet full of credit and loyalty cards could soon be near.

 

 

Sources:

http://www.paywithisis.com/

http://www.google.com/wallet/

https://squareup.com/wallet

 

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Susan Peters