Paying for goods and services becomes a fingertip transaction

CASH and cards in your pocket? They are no longer necessary as consumers venture into the realm of digital payments. Just as cards took over for cash years before, digital wallets are now replacing the card. It’s a hot trend in China and elsewhere in the world. Consumers can pay their bills, restaurant tabs, travel accommodation and merchandise purchases with their mobile phones, wearable devices or other connected terminals almost everywhere. Payment service corporations are now transferring their core business into technology development that makes such a cashless society possible. Digital payment services off an array of choices. The most popular in mainland China is the QR code, which lets consumers just scan a bar code to pay for goods and services, or obtain information. In other areas of the Asia-Pacific region, contactless “near-field communication” (NFC) is another quite popular way of payment. For instance, Apple Pay, Android Pay, Samsung Pay and other near-field communication systems have specific projects currently operating with success in Taiwan. Biometrics is another creative payment, powered by recognition of information provided by fingerprint, voice or face features. This technology can be used in payments both online and offline with connected devices and have the advantage…

Link to Full Article: Paying for goods and services becomes a fingertip transaction

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