Mobile payment refers to any payment made using a mobile device.
Practical, fast and 100% free for users, it seems to tick all the boxes in terms of advantages, especially in a society where the smartphone is part of everyday life.
Payment by telephone also offers a major advantage: the absence of a cap on purchases, unlike traditional contactless payment.
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How to pay without contact with your phone?
To pay with your phone, you must first make sure that it is equipped with NFC (Near Field Communication) technology, also called CCP (Communication in Near Field). This allows two nearby devices to exchange information quickly, on the same model as Bluetooth. If your smartphone has this device, you can use it to pay for your purchases in all establishments equipped with a contactless payment terminal, provided you have unlocked it beforehand. Beside that, it is a must to download a mobile payment app on your phone and configure it. It is also referred to as a “digital wallet”. Mobile payment solutions are plural. The most popular are Paylib, Apple Pay (for iPhone owners,iPad and Apple Watch), Google Pay and Samsung Pay (for owners of Samsung devices).
In fact, you have to fill in the data on the card (or scan it directly when the option is offered) then, when desired, bring your smartphone a few centimeters away from your merchant's payment terminal for several seconds.
The device informs you that the operation is successful.
It's hard to make it simpler !
Sometimes some stores use old software and ask you for a code or signature.
In all cases, no charge is applied.
Mobile payment: Which online banks are compatible?
The figures of the Baromobile 2020 barometer came to advance the fact that 91% of people aged 15 to 60 were aware of mobile payment. The 2021 edition of the mobile marketing barometer specifies that 38% of French people now use mobile payment solutions and that 49% intend to use them in the future, proof of this that the concept is developing.
Faced with the rapid growth of payment by telephone, banking establishments, including online banks, have had to adapt. Many of them are now compatible with at least one mobile payment application, but it has taken time. The list goes on: Fortuneo, Hello Bank, BforBank, Monabanq, ING, Ma French Bank, N26, Orange Bank, Bunq, Monese, Revolut, and C-Zam (Carrefour Banque) to name a few. Boursorama Banque, for its part, is an example since online banking is compatible with Apple Pay, Google Pay, Samsung Pay but also with other less used applications such as Garmin Pay or Fitbit Pay. It's a safe bet that within a few years almost all banking establishments will follow suit and offer the same service.
Currently, the main obstacle to the use of payment by telephone lies in the question of the protection of personal data.
However, the procedure is actually very secure (entering personal codes, biometric authentication by fingerprint, facial recognition, etc.).
In the event of loss or theft of the phone, you must nevertheless be reactive and quickly notify your telephone operator and your online bank, so that they can deactivate the application as a precaution.