FREMONT, CA : Mobile payments through digital wallets were already becoming more prevalent as consumers become comfortable with the technology. More merchants provided terminals that accept mobile payments from devices at the point of sale. With COVID-19, contactless payments are even more appreciated. Now, 67 percent of shoppers need self-checkout options from mobile devices. Fortunately, many methods are already available to merchants looking to provide their customers more contactless means to pay.
Near Field Communication
NFC is the fuel behind contactless debit/credit cards and mobile wallets in smartphones and wearables. The backing of leading brands behind NFC has paved the way for the popularity and need among consumers. The COVID-19 safety measures also trigger the rise. NFC payments will rise as consumers who were previously hesitant about contactless payments are becoming more interested in methods that mitigate human contact and turn to mobile wallet brands they know and trust.
QR Code Payments
Quick Response is 2D barcode codes that are rapidly readable. They are look-alike fancy versions of linear barcodes that customers find in stores, but they hold a wealth of data and facilitate instant mobile payments. Once the user scans the code, it will send a push notification to open the app or webpage on the mobile device and display the data.
Direct Carrier Billing
DCB is an online payment means that enables users to make purchases by directly charging their mobile phone bill, whether it's a smartphone or feature phone. The user only requires an active SIM card to be billed. Direct carrier billing varies from other popular mobile payment ways like mobile wallets, NFC, and QR codes because it bypasses banking infrastructure and credit card firms altogether.