When somebody is active in the world of FinTech, at some point in their career, they will start developing a mobile application. Or in some cases, other people will be hired to take care of mobile development, as this is a difficult skill to master. Most of these applications are put in the various mobile app markets at a small or high price, depending on what type of service they offer. It is important to keep in mind that apps need to be discounted now and then to attract more users.
Mobile payments are picking up all over the world, although the Chinese market will be the most difficult to penetrate for most foreign companies. One of the first major players to bring their mobile payment solution to China is none other than Apple. Thanks to a partnership with China’s UnionPay, Apple Pay will soon be accessible to consumers all over the country.
With the evolution of the payment landscape and constant change these days the main question is what kind of solutions can we use in every single store. According to Walmart executive Mike Cook, it will not be a payment method support by NFC, nor will it be Google Wallet. This announcement narrows down the field and leaves Bitcoin as one of the possible options.
The financial sector as we know it has undergone many changes over this last 12 months. Even though there has been a disturbing lack of innovation from within the sector itself, the accelerated development of new technologies is making up for that. If all things go to plan, technology firms will be able to offer access to the payments system without relying on larger banks.
Make sure to read: NairaEx Aims To Restore Bitcoin’s Prestige in Nigeria
No payment system is safe from hackers these days, as all of these services are high-profile targets for people with less than honourable intentions. However, though there is a positive side to hacking, as well – in terms of finding and patching vulnerabilities – but the recent LoopPay breach is particularly worrying for anyone who has ever used Samsung Pay.
Emerging and developing markets, such as India, for example, are warming up to the idea of using decentralized payment solutions such as Bitcoin and other digital currencies. Looking at this from a financial point of view, India, together with China, are two countries working very hard to drive the growth of non-cash payments. Only time will tell if this move will help foster Bitcoin adoption in both countries.
There are quite a few everyday consumers who wouldn’t mind switching retailers if they started accepting Bitcoin. Brand loyalty is not what it used to be a few years ago and there is very little competition between retailers in terms of pricing. The only key area to make a difference, is what types of payment methods are accepted and Bitcoin could be a determining factor in the next few years.
More and more Bitcoin companies are looking for ways to expand their capabilities for various services. Integrating Bitcoin into the spending habits of everyday consumers is a key element to push virtual currency adoption to new levels. Bitcoin wallet provider Zebpay introduced a new feature that will let users pay their mobile plans directly from the wallet.
Zebpay – More Than Just A Bitcoin Wallet
One area of product that nearly every Bitcoin user comes in touch with is paying a mobile service bill. Regardless of whether the mobile plan is prepaid or postpaid, being able to pay for it with Bitcoin would be a major step forward for most everyday consumers. Mobile Vikings, a mobile MVNO active in Belgium, The Netherlands and Poland, has been accepting Bitcoin payments directly for quite some time now.
Gauging everyday people’s interest about Bitcoin and digital currency is not as easy as it may sound. Not just because most people on the street have absolutely no idea as to what Bitcoin is or does, but also because it’s hard to put those results into demographics and statistics. Australia-based Fair Go Finance recently conducted a Bitcoin survey during “The Future of Money”, and these are their findings.
If Visa Europe has a say in the matter, most of us will be using mobile credit card payments within 18 months from now. While credit card payments are convenient for the consumer, they also bring quite the security risk to the table in terms of chargebacks, fraud, and cards being misused. Bitcoin is another payment method that has been available on mobile devices for quite some time now. Which one is most convenient? Let’s find out.