Top 6 Mobile Payment Systems

The mobile device has long been used for much more than voice calls only—video calls, excellent quality cameras that are rapidly developing, full internet access, impressive games with high-end graphics, and the list goes on.

These days, there is no one who doesn't have a mobile device. People cannot do anything without their cell phones—it seems they're unable to leave the house without this device. for some it has become the main or perhaps only way to communicate, whether through calls or internet access.

When you upgrade your cell phone to a smarter device that can detect a location, can connect to the internet and do a few other things (useful and not useful,  like identifying a better watermelon), there are a number of operations that are beginning to gain momentum and are becoming more convenient solutions to those already existing today such as payment through a mobile device.

This article shows some of the biggest names today that offer payment solutions through the mobile.

BlueSnap

This system has been developed by an Israeli company and enables payment that is managed on the network, in order to improve the buying experience of sellers and buyers from around the world. The system performs this by combining several elements that are essential to the buying process. These elements include analysis system, one-click payment process, global payment processing, integration options for enterprise systems and dynamic e-commerce tools. The goal of the company is to offer a payment service that will enable the bridge between sellers in one country and buyers from another country, with foreign currency, a unique credit card and various bank accounts. Thus, instead of the buyers having to deal with the gaps in the payment experience, Blusnap will carry out the approval and collection process for them, and all they have to do is to provide the products to the various customers.

Dwolla

Dwolla is an online payment tool which also offers a mobile payments interface. Dwolla’s interface allows you operate many financial operations. Among other things you will able to effectively perform bank transfers, manage customer data,  simple and conveniently perform mass payments, and  immediately approve bank accounts. Dwolla’s API allows you to carry out bank transfers simply, moreover you can create an account, get payment notifications and supply a comfortable payments experience for your customer. The interface is very easy to operate and includes extensive documentation as well as a sandbox testing environment. It offers an intuitive dashboard to view the data with a variety of charts and graphs adjusted to up to date business trends. When it comes to customer care, Dwolla provides a simple way to allow you to manage your customer data including transactions and transfers without having your own admin.

Stripe

Stripe is an online payments tool designed for individuals and businesses. Through it you can receive payments via the internet, it provides protection from various scams, and has a banking interface in order to operate payments via the internet in real time. The payments are performed online in web or mobile with the major credit cards as well as ACH and Bitcoin. Stripe Supports new features that encourage less code writing without being an expert on payment flows. Stripe operates according to the PCI-DSS and ensures that credit card data is protected in any environment in which it is stored, also secure interaction between customer and servers. All the data is accessible via the API. You can also download CSVs or export your charges directly to Quickbooks and other systems.

Braintreepayments

Braintreepayments is a mobile Payment solution for making transfers, purchases and other manipulations in order to maximize profits. Braintreepayments offers four products, the first being Braintree Direct which is a payment tools for sales via the web and mobile. It is compatible with credit and debit cards, PayPal, and more and they accept more than 130 different currencies. All of that surrounding with fraud protection and organized together in a well-equipped dashboard with reportings, charts and offers as well. Their next product is Braintree Auth which allows your customers to connect to your platform and gives you a permission to take action on their behalf. In Contextual Commerce field, Braintreepayments allows you securely share payment data with other businesses in order to upgrade the trading experience and create more business opportunities.

Venmo

Venmo is Paypal's mobile payment service, allowing users to use mobile phones or web pages in order to perform transfers.  Venmo offers simple and quick payment options between users. Reservations in the Venmo user account can be pre-deposited by credit card, bank account, etc, and payments made to friends are automatically deducted and stored in your friend's Venmo account. When the amount of Venmo is not sufficient to cover the payment, the user will be the main source of funds (such as credit card) to mention. You can also perform deposits with the Venmo account, or export them to a bank account which is provided by the user. Venmo's transfer transaction is immediate and can be transferred to other people or transferred immediately after receiving the payment, which is more convenient than the traditional transference (such as internet banking).

Looppay

LoopPay is a mobile commerce platform and Payment system which became the payment platform Samsung Pay. LoopPay technology is based on a metal coil and various plagens that together create a magnetic field that enables communication with regular card readers in a variety of businesses. But instead of coming physically like we use to see when we transfer our credit card at the supermarket or ATM , LoopPay’s solution does it wirelessly. While cellular payment services have become a popular trend, Apple and Google already offer such service across the world. According to LoopPay, the solution they developed is compatible with most of the existing readers, so there is no need to equip with new ones. In order to use the service you have to download the free application for Android or iOS, enter and choose the card you want to pay, attach the smartphone to the card reader, press the transfer button and that's it. LoopPay can be embedded in any smartphone or smart clock at only one dollar. There is also a possibility to purchase a built-in cover that integrates with iPhone and android devices.