Why Shoppers Are Still On The Fence About Mobile Payments…

The days of paying with cash, check or credit card are soon long gone. Advancements in technology have made way for smartphones to become a person’s wallet. Instead of swiping your card at the cashiers terminal, you can now scan your phone over the terminal to make your purchase.

But, should this be the end all, be all of traditional payment processing?  Many people who have transitioned over and are now using mobile apps and other technologies says don’t be too quick to make the switch.

Replacements such as Google Wallet and Isis have become a convenient way for shoppers to make payments. The use of these apps allow payments to be made on your smartphone with a PIN and connected payment accounts. American Express created a system using Twitter, which allows their account holders to pay using hashtags.  It is called Sync from AMEX™ and only linked payments accounts are accepted. But, what is disturbing about the use of mobile wallets and social media is security.  Are these tools safe?

Before deciding to embrace these types of payment tools, please read over the fine print. Make sure the tool or app has an identity theft program. Also, find out their policies on personal account protection. You need to know what will happen if your account is breached.

In addition, read reviews about the service online. Find out from others what are the pros and cons.  One guy, in an video interview on the AJC, stated that he uses Google Wallet. But, at times, the app is faulty and is unable to scan properly when he’s at the store. Although it is not certain if the issue is due to the merchant’s terminal or the customer or the app, the fact is that Google Wallet didn’t work when it needed to. So, for many users, this can be frowned upon because of the inconvenience the app causes.

Besides apps, however, there are other new age payment options that seem more secure. Square or Paypal Here allows the merchant to swipe your card using a portable terminal (that attaches to the smartphone or tablet).  If the attachment is not available, shoppers can also manually type in their credit card info and make a purchase that way. Receipts are then sent automatically to the shoppers email address.

The traditional payment process may only exist for the next 10 years.  So why not start now using non-traditional ways to make payments?   First, do your research and make sure it is beneficial for your lifestyle. And even if you are a late bloomer, don’t be intimidated by technology.  We’d rather you gravitate toward it slow than be completely left behind.