There are few things in this world that money can’t buy, for everything else there is “Master card” and now “mobile wallets”. Wallets play a vital role in our lives. We carry important papers, cards, money and many more things for our daily usage. In our day-to-day life, we have faced many annoying situations like “receiving a candy instead of a rupee coin”. But now it’s time to change our life with new innovation and technology, being popularly known as “mobile wallets”.
This is a latest user-friendly feature that has been introduced to save our time and sometimes even money, when paying our utility bills by standing in a long queue, going to banks for transferring funds and many more things almost on a daily basis. Nowadays, mobile wallets help us to pay for everything online and offline from any part of the world. We can even transfer money quickly, buy tickets online, get gift coupons, etc. There is no longer any need for carrying around credit or debit cards with us.
Mobile wallets organize our smart phone and enable us to store our personal financial information, card details, voucher details, etc. for regular use. With a single touch on your phone mobile wallet, you can quite efficiently pay for food, shop online, and buy bus or movie tickets. As a mobile wallet operates with the sensitive data of the users, developers ensure that they are highly secured. The security levels of mobile wallets may differ from merchant to merchant. Mobile wallet operates on a digital platform in a similar fashion like the physical wallets in which we carry money. Just like a bank account, it is an online platform which allows users to keep money in it.
On mobile wallet websites, we create an account with the mobile wallet service provider and add money to the wallet from our personal bank account and then spend the same money from the mobile wallet in shopping or paying bills. We can only spend on those merchants who are registered with the mobile wallet service providers. The payment gateway of mobile wallet is secure with NFC, or better known as near field communication technology. This technology provides a direct link to the owner’s account and payment of product via the mobile wallet is made secure.
Nowadays the users of mobile wallets can enjoy the secure way of shopping with their mobile phones, without the need to carry a physical wallet. Mobile wallets can hold all information that most people carry in their pockets today like credit cards, bank debit cards, receipts, coupons and loyalty cards. The idea of mobile wallet is to make life easier in a single touch and on a secure platform.
Some of the biggest players in the mobile wallet market are Airtel Money, mRupee, ikaaz, Vodafone m-Pesa, Paytm, Oxigen Wallet, Idea Money and Mobikwik.
The key benefits of mobile wallet is convenience and speed of doing the transaction .The users enjoy greater flexibility in making secure payments by choosing their own mode of payment. It is also useful to users who don’t have a credit card or a debit card can now directly visit to their nearest wallet recharge kiosk and get their wallets loaded against cash. As the use of Smartphone is increasing mobile wallet will play a significant role in our day-to-day lives.
So, Guys what are you waiting for……just download the mobile wallet apps on your smartphones and simply kick-out the fear of loosing credit or debit cards.
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