No cash? No worries!
First it was counting notes and clunky change, then we had a card and another dreaded pin number to remember – it seems that these days are over with the rise of tap-and-go!
The ability to make contactless payments allow customers to make day-to-day purchases quickly and safely. While the card tap-and-go technology may no longer be groundbreaking, there are a number of innovative payment systems on the way. With so many easy ways to pay and a huge shift to tap-and-go style payments, a lot of people carry very little cash and most people in Australia are expected to have a virtual wallet on their phone or smart device by 2025.
Wearable technology, such as smart watches and fitness trackers, is expanding at a rate of knots. With fitness trackers set to partner with credit card providers and banks in the near future, payments via wearables will be on the rise as well. You never know, you may even be paying for dinner with your fingerprint or eye scan soon!
Here’s a quick rundown on two popular and widely used payment methods available now:
Forget about telling the time, today’s watches are so much more! You can run your entire day from your wrist, even without your phone. To make payments from your smart watch, all you’ll need is an account with a compatible payment app (such as Apply Pay), link it to your preferred bank account or credit card and away you go! Just hold your watch over the payment terminal like your tap-and-go card and you’ve instantly paid.
From Your Phone
Like everything else these days, you can pay directly from your smartphone! All you’ll need is to download a mobile payment app, input your credit or debit card, then just simply open the app and tap your phone to pay.
Mobile payment apps are available on both Apple and Android devices. It’s best to check if your credit or debit card is compatible with mobile payments.
Based on current trends and technology, who knows what we’ll be paying with in just a few years?