mobile-payment-systemsBefore, paying your bills was a huge stress for a lot of people. You would have to spend a whole day (usually, a working day since billing offices are closed during the weekends) to drive from one office to another, waiting in queues for minutes – even hours – just to get everything settled.

The advent of credit cards made everything a bit easier, sure, since you wouldn’t have to bring cash in your wallets anymore. Still, you’d have to fall in line and wait for your turn with the cashier.

Payment centres in huge malls helped a lot too since you get to pay all your bills at one go. And that’s convenient for those who really don’t have the luxury of time.

But nothing beats mobile payment systems.

It’s very simple! Here, you use your phone and a payment provider (PayPal is one of the most popular example) to make cash transactions.

Non-coin-based currency is not a new concept. However, it has not been this revolutionary. If you have not experienced paying through this system yet, here are some reasons for you to give it a try.

Utter Convenience

Your electricity provider has notified you that the due date for your payment is today – and you’re stuck in a meeting. You don’t have an assistant to do this for you. You can’t call your wife so that she’ll work on this because she’s also busy.

If it were ten years ago, you’d be paying for the extra charge if you paid late or you’d come home without electricity. But now, all you need to do is whip out your phone and send the money to electric company.

Speedier Check Out

Do you need to fall in line? No. With this system, you need not be in queue for hours doing absolutely nothing, while waiting for your turn to pay.

This is not just advantageous for the clients but also for the business owners. For example, hotdog stands which are currently using this sort of system gets to service 250 customers a day compared to a hundred or less they serve when they used the traditional payment method.


It’s hard giving complete strangers your credit card or bank information. There have been so many cases of theft and fraud because of this. But the great thing about certain mobile payment systems is that you really do not need to give your personal banking details. You just send them the money they need. That’s it!

Lessen Fees on Credit Cards

There are some mobile payment companies which do not charge transaction fees when they reach certain incentive levels, and that is always a great thing. But most of them do charge a small percentage per sale. Nevertheless, this is still lower than what most credit companies would charge.

Ability to Track Payments

Bills printed on paper, whether that’s paid or not, tend to get lost in the mail or misplaced on your desk. If you need to make a dispute and you don’t have this as proof, it would be an uphill climb for you.

But if the proof is on your phone and linked to the mobile payment company or financial institution, you wouldn’t have a problem.

Based on Statistics, majority of the population in Japan makes use of their iPhones and Androids for transactions, whether that’s just for shopping or for paying important home bills. Other countries are also utilizing this (train and bus tickets, for example), although not on a holistic level yet.

While mobile payment systems has not taken off in the USA as it had in other countries, financial experts agree that more and more people will definitely see how smart and convenient this is.