Credit Card Transactions on Mobile Phones
Posted March 24th, 2010 and last modified May 6th, 2011Mobile Phone Credit Card Transactions
Previously, credit cards had to be used at terminals at commercial shopping centres and retail shops. This was limiting to the consumer and the retailer because it required that the consumer physically *be* there to perform the transaction. That has all changed. Now, you can perform “credit card transactions on mobile phones.” Innovation definitely has its advantages. These precious little pieces of plastic called credit cards have undergone a series of innovations that have allowed it to become even more convenient to consumers. One other device that does not seem to leave our side is the mobile phone.
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How it Works
Inside your phone, there is software for your phone browser and it allows you to make purchases and payments by simply pressing on a few buttons on either your phone or blackberry. There are fees that apply through you phone carrier but they are usually regular rates for connecting you to a processing company.
There are some retailers that have even used this technology of credit card transactions on mobile phones in lieu of swiping your card at a terminal. Retail support staff members will ask to see your card so they can transfer the necessary information through their phone on to the processor. This may sound suspicious but do not be worried. You credit card information is sent through a excellent mode of encrypting data which protects you from theft. While there are some who are a bit leery of this option many are very enthused by the added convenience.
Some Drawbacks
There are some mobile phones and blackberries that are not able to save data for subsequent transactions. This can be an issue for the user who wants to take advantage of this convenient feature. And, currently you are not able to print a receipt to keep track of purchases. You can write down the transactions but most people will not want to do that. You will receive a rundown of purchases on your credit card statement but finicky users will still find this lacking feature a bit of an annoyance. Contesting charges via mobile transactions can also be difficult to manage. In this case, you will want to exercise extreme restraint when using this feature.
Technology and innovation has made all of our lives easier. With the advent of credit card transactions on mobile phones, we are now able to book cruises, buy scuba gear and schedule skydiving lessons from anywhere on the globe.
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