Mobile payment
It’s a way of allowing users to use their mobile terminals to pay for the goods or services they consume. It can be divided into two types of ways, one is near-field payment, the other is long-distance payment. The former one is the way to use mobile phone to tap the machine when you buy something. The other one is by sending payment instructions, such as online banking, telephone banking, mobile payment, etc. Or by means of payment tools, such as by mail, remittance for payment.
Advantages:
Mobility: When you forget to take your debit card, cash or credit card out, it’s convenient for you to use this way to pay something. It can eliminate the distance and geographical restrictions. It combines with the mobility of advanced mobile communication technology, anytime, anywhere access to the required services, applications, information and entertainment.
Timeliness: Free from time and place restrictions, access to information more timely, the users can at any time for the account inquires, transfer or shopping consumption.
Disadvantages:
Sometimes, there are too many mobile payment tools make consumers confused. In addition to Apple Pay, there are many different mobile payment methods, such as Flint, Square, PayPal Here and PayWave, as well as banks to provide solutions, adding to the confusion. On the other hand, it’s easy to virus infection and let someone steals important information from your mobile phone. It can cause fraudulent phone.
Cash
It refers to the exchange medium that can be put into circulation immediately.
Advantages:
It’s acceptable and can be used immediately to buy goods. It’s easy to pay when you buy something.
Disadvantages:
It is very dangerous and inconvenient to carry a lot of cash on hand.
Credit card
Known as “plastic money”, are being offered on very good terms to encourage the change. Consumers will be able to “buy now, pay later”, and many see this as an advantage. Banks and other financial institutions are encouraging their customers to use credit card to buy things. Meanwhile, there are many disadvantages associated with credit cards.
Advantages:
Using credit card cleverly then it’s possible to borrow for no cost, get extra protection on your purchases and even earn rewards for spending on your card.
Disadvantages:
Some people find it very easy to exceed their budget. They are tempted to purchase goods that they do not really need, and can become quickly overburdened by debt. The credit cards often charge a high rate of interest.
The blog compares three ways of paying. They all have advantages and disadvantages, and the blog analyze it completely. I love it! All payments has advantages and disadvantages, but after reading your blog, I think the best way is mobile payment as I always lose my card.
ReplyDeleteNice post. The different forms of payment is currently trend to the world. However, it is a double edge sword. It does harm and benefits to people. I like you style of posting. Carry on.
ReplyDeleteThis blog introduces three important consumer tools, cash, credit CARDS, mobile payment strengths and weaknesses.These things are of great help to everyone.
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