What Mobile Wallet Payment Types

What Mobile Payment aims to provide a breakdown on the current world of Mobile Payments, their uses and how they benefit individuals or businesses.

Mobile Payment Type


Usually physical goods and services, currency transfer and traditional financial services. These benefit from an existing secure and regulated framework but encourage a simplified user experience and creates pressure to reduce transaction costs.

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Mobile Payment App

Proximity Payments

Commonly low-value physical goods and services and transport payment. They must provide convenience, fast transaction times and help reduce the need to use and carry cash.

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Digital Payment

Virtual Goods Payments

Common uses are music, software, social games, virtual gifts, mobile applications, e-tickets they are usually small transaction values and the ability to reach non cardholders is allowing some very innovative solutions.

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Business Mobile Payment Account

Payments for Business

Allowing domestic and international money transfer and assisting small merchant payments. These help the financially excluded reduce the need for cash and cheques and are primarily associated with mobile network operators.

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Best business uses of mobile pay
A business needs to consider it's customers and the user experinces they are looking to adopt as people's spending habits changes.

POS (Point of Sale)

Retailers, Shops and Market stalls have found it very expensive taking card payments, as consumers start using mobile payments more there are a number of ways people can start accepting digital payments using mobile devices, this can be either sending a payment from one mobile device to another or tapping/scanning one phone onto another mobile smart device.


Businesses have seen significant benefits being able to take mobile payments over the internet, Paypal has seen tremendous popularity and the introduction of Apple Pay, Samsung Pay and Android Pay are making it easier to store your bank information to be used across all your mobile, wearable and smart devices as the internet of things (IOT) becomes more popular. However these are still expensive and there are new cheaper alternatives if you can encourage consumers to use them.

Mobile App

With so many mobile devices in the world companies have seen great advantages allowing people to download a mobile app, they are now finding significant benefits allowing in-app purchases to make it as simple as possible for people to purchase their products or services. It also allows great insight in to customer behaviour to deliver an exceptional user experience and increase customer loyalty with vouchers, coupons and rewards.

Mobile Payment History

Mobile Payment History

There have been some key phases in the evolution of mobile payments and they continue to evolve at a faster pace than ever before. Are we likely to see a common mobile payment type or will there be lots of differing types dependent on the type of purchase being made - Person to Person, Mobile Commerce or Face to Face.

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Mobile payments for your business
Mobile payments and mobile devices have now made it so easy to start your very own business offering services and making and accepting payments between customers and other businesses.

Mobile Wallet

A mobile wallet is a way to securely store your credit card, debit card or bank account information in a digital form on your mobile phone. You pay using your mobile phone, tablet or smart watch, instead of using your physical plastic card to make purchases. Apple Pay, Android Pay and Samsung Pay have all been launched as an alternate way to make and receive mobile payments.

Mobile Card Reader

Mobile card readers include mobile devices such as iZettle, SumUp and Square. The card and mobile phone reading device either attaches directly to your mobile phone or tablet, often connected wirelessly to the mobile device using a Bluetooth or Wi-Fi connection. one of the easiest ways for businesses to accept money from customers face to face.

Mobile Payment Account

Mobile payments also known as mobile money, mobile pay or mobile money transfer. These new payment services are operated under financial regulation and performed from or via a mobile device. There are a number of new ways people are starting to transfer money between people and between businesses.