Gone are the days of having to carry cash or even swiping a card to make a purchase. In today’s digital-first world, contactless phone payments have changed the way people shop.
Shoppers are using their phones to make payments more than ever. Contactless purchases are expected to increase annually by an average of 23% worldwide, exceeding more than 522 billion purchases by 2026.1
So what exactly is a contactless phone payment? This guide explores how to pay with a phone, the way it works and answers some commonly asked questions.
Many of us know the feeling of standing at a checkout line, fumbling through our wallet to find the right payment card or counting up the cash needed for a transaction.
Contactless phone payments allow you to complete transactions simply using your mobile phone as a payment tool. Contactless phone payments utilise near-field communication (NFC) technology, which allows two devices close to each other to transmit data wirelessly.
With various contactless payment methods available, here’s a breakdown of how you can pay with your phone:
Whether you’re in a hurry or simply looking for an easy way to pay, using your phone to pay can provide a fast, secure, and convenient way to complete transactions on the go.
Here’s an overview of some potential benefits of using contactless phone payments:
Yes, contactless phone payments are generally secure. Because payment information is stored on your phone and transmitted wirelessly to the payment terminal via NFC technology, you don't have to worry about someone stealing your card or cash.
Plus, many contactless payment methods use advanced encryption and authentication to keep data safe.
Learn about the PayPal app here.
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