Thanks to contactless payments, there’s no longer a need for you to carry around a big wallet full of all your cards. Mobile payment platforms can really come in handy.
Less than 2% of all in-store purchases are made with mobile payment services.Apple Pay is the preferred mobile payment service, accounting for more than 45% of all purchases made with a digital wallet.Samsung Pay was recently moved inside Samsung Wallet, which adds support for digital keys and cryptocurrency.Instead, they receive a virtual account number and password that they then use to authorize your payment.
This process keeps merchants from ever knowing your real card number. Both Samsung Pay and Apple Pay rely on tokenization to perform their contactless payments.5 Must-Know Facts About Mobile Payment Services
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