Mobile Payment Apps and the Price of Convenience by Nora Dunne (Thursday, April 2nd, 2015)

Title:

Convenience of mobile payment

First Impression:

My first impression in mobile payment is that it convenient to use even though I only use it to purchase apps.

Quote:

“Is it inevitable that consumers will eventually embrace it.”

Reflection Proper:

Mobile payment has been a growing trend, it allows users to pay to their phones rather than going to banks and stuff. Since smart phones is a part of our daily lives, we use it almost for everything, like taking pictures, playing music, watching videos, and calling or texting someone. This is why they introduce mobile payment in the market where it can be more convenient for us to pay through our phones rather than taking out your wallet to get your cash or card. Even if the mobile payment market has doubled from 2012 to 2013 there are still a few people who don’t know how to use this feature because many people who have smartphones don’t even know that they can use their phones for better convenience.

Yes it is true that is much faster and easier to use but there are also some cons to it, one of that is that some old smartphones who don’t have NFC or Near Field Communication cannot do mobile payment. It will be a disadvantage to those people who can’t buy these new phones that have NFC. Another reason as to why people still don’t trust this functionality is because they question the security of it. People are afraid to give their information for the companies to see. Many companies are entering the mobile payment market where they compete to get more people using their service like Google Wallet, Apple Pay, and Samsung Pay who are one of the larger companies competing. But as time passes by technology improves so as the security they provide, which is why companies enter mobile payment because they know that you can trust their good security.   

5 Things That I've learned (List down 5 things that you've learned from the article)

1. I learned that Samsung has their own mobile payment service

2. Only 7% of people in US pay using smartphone

3. NFC is needed for mobile payment

4. Many people don’t trust these services because of security purposes

5. People are not aware if their phones have NFC

5 Integrative Questions

1. Will you adopt to the trend in mobile payment?

2. Will you consider using mobile payment as secure?

3. What will you do if you get hacked when using this service?

4. DO you prefer mobile banking or personally going to banks?

5. Which do you prefer? Google Wallet, Apple Pay, or Samsung Pay.