The ever increasing popularity of mobile phones and their development have replaced many things so far. For instance, a clock, a music player or office package can be accessed through modern smartphones. The next big change that’s going to take place is the replacement of our wallets into digital ones?
Toady developers are providing several mobile payment systems for their users. Phone payments in itself involve several payment models:
Carrier Mobile Billing: Purchases for digital goods or services will be charged to your monthly phone bill. All you need is a mobile phone. The payment is made by sending SMS.
SMS Mobile Payment system: This mobile payment system enables consumers to pay for online goods and services by sending a text message from their mobile phone at any time and from anywhere. The consumer is charged for the service via the premium message.
Credit Card Billing mobile payment system: This mobile payment system-software is installed into a web page. Most of merchants may find some difficulties to integrate this mobile payment software to handle money transactions. Because of complicated process, many users pick third party merchant accounts to give their consumers credit card billing option, and this is where Junglepay is on top of the charts.
Near Field Communication (NFC): NFC phone payment users need to have a phone equipped with a smartcard. The relevant payment amount for goods or services is deducted from the consumer’s account or directly charged to a credit account.
These days many social networking websites like facebook are using mobile phone payments as an alternative payment method to allow users to purchase credits or virtual currency to purchase gifts, games hints etc. and the consumers will be charged for the service in their monthly bill.
There are a lot of mobile payment systems who offer various mobile payment solutions to e-commerce businesses but JunglePay has been rated as the best, which offers comfortable online billing solutions for merchants and consumers as well. Most of the mobile payment systems providers extend their phone payment solutions to over 50 countries worldwide and in the coming years this number is certainly going to see an increase.
Using one or another phone payment solution has many advantages. You never have to worry about your wallet and rely on standard payment methods like cash or credit card. In other words your wallet is replaced by mobile phone with installed payment application. You will be able to buy online goods and services via mobile phone. All credit card details are safely stored within mobile handset. To make a phone payment with a mobile phone requires just few minutes and few clicks. Merchants, who use mobile payment system, have an edge over others as it provide an additional payment option to the consumers resulting in fewer abandoned shopping carts. They can keep a track of consumer’s shopping habits and, what goods or services they buy.
Mobile payment systems are rapidly changing the payment solutions for small and medium business. Many popular business portals like Paypal, Starbucks etc. have started using mobile payment systems. Not so long ago many merchants ran from cash to electronic form of business, which gives them better and wider possibilities to reach more consumers and to earn more money. As mobile devices and mobile phone payment services providers continue to grow, so do phone payment solutions consumers. Difficulty in implementing and using the mobile payment solution was a big hurdle for the merchants to adopt phone payments, but due to recent developments a new promising future for mobile payment systems is coming for sure, because phone payment services providers are working very hard each day to improve mobile payments solutions.