Sergey Kondratenko: Mobile payments and contactless technologies

Contactless payments represent the modern era in consumer financial transactions. Sergey Kondratenko, an expert in the field of fintech, says that they allow payments using credit or debit cards through mobile applications such as Apple Pay, Google with an NFC or RFID chip. This allows customers to complete transactions without the need for physical contact between the card and the reader.

Sergey Kondratenko is a recognized specialist in a wide range of e-commerce services with experience for many years. Now, Sergey is the owner and leader of a group of companies engaged not only in different segments of e-commerce, but also successfully operating in different jurisdictions, represented on all continents of the world. The main goal is to drive new traffic, create and deliver an online experience that will endear users to the brand, and turn visitors into customers while maximizing overall profitability of the online business.

What are mobile payments: their features

Digital payment transactions are becoming increasingly popular, states Sergey Kondratenko. This is due to the proliferation of smartphones, high-speed mobile data networks and the growth of e-commerce.

One type of such payment method is mobile payment – this is a contactless payment method using a mobile device, such as a smartphone, smart watch or tablet. These payments are made digitally, without using a credit or debit card or inserting one into a device at the point of sale.

Americans have already appreciated the benefits of mobile payments, which is why 82% of people pay this way because it is faster, cheaper and more transparent.

– People use mobile payment systems to pay for goods and services, transfer money to another person or account, and pay bills. Typically, payments are made using a mobile wallet – a digital account that stores payment information. Merchants use card readers to accept payments from customers., says Sergey Kondratenko.

The specialist draws attention to the fact that there are two main types of mobile payments: contactless and remote.

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Author: Crypto Daily

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