Mobile payment systems in e-commerce

Mobile payment systems

Payments systems are an important part of e-commerce. Mobile payment systems are even more important now that mobile e-commerce is on the constant rise. There are several mobile payment systems that are already on the rise across the globe. Mobile payment is now being seen as an alternative to other payment methods such as credit card payment method. In all countries around the world there is now a form of mobile system observed. This is mainly due to the fact that a lot of people use mobile phones. Mobile networks and banks around the world now offer a form of mobile payment method. Even developing countries in Africa now have a mobile payment method that is designed to facilitate trade. This is evidence that mobile payment systems are the drivers of e-commerce. Having the ability to make payments from anywhere makes it easy for e-commerce businesses to facilitate payments.

Mobile payment systems and credit cards

There is no doubt that there is a huge difference between mobile payment systems and credit cards. Credit cards are often issued by financial institutions such as banks. Mobile payment system services are offered by mobile network companies. Credit cards are typically safer to use. They are more commonly used than mobile payment systems. Some online payment giants such as PayPal incorporate mobile payment systems into their platform. Mobile payments are becoming more popular. In developing countries where the banking sector is not very effective mobile payment systems have been seen as the only trusted payment system. Developing countries usually have weak financial institutions therefore a large segment of the population do not have access to bank accounts. This makes mobile payments very important. In e-commerce mobile payments are usually integrated with other payment methods such as bitcoins.