Dan Schatt and Domenic Carosa, fintech veterans and leaders of Earnity, a social-first crypto platform and marketplace, have always been advocates of financial technology. People need to switch to online payments because of the safety and benefits
As most new technologies have been proven, adoption can make millions, if not billions, of people’s lives easier. And this rings very true with mobile payments.
Despite being around for a while now, mobile payments are still not as popular as they should be. This is likely due to people not understanding the full benefits of using this technology. This article will explore why everyone should switch to mobile payments as soon as possible.
Delivering Convenience and More
The first and perhaps most obvious benefit of mobile payments is convenience. With a phone in your hand, you can pay for just about anything without carrying extra cards or cash. This is a massive advantage over traditional payment methods, requiring you to fumble through your wallet or purse, looking for the right card.
Another huge benefit of mobile payments is security. When you use a credit or debit card, you give the merchant access to your entire account balance. Meanwhile, you only spend what’s in your digital wallet with mobile payments. This makes it much harder for thieves to steal your money.
In addition to convenience and security, mobile payments deliver other benefits. For example, you can often get rewards, such as cashback or points, for using mobile payments. And if you, by a stroke of bad luck, you can usually cancel the payment so that no one else can use it.
Mobile payments are all these and more. And they are the future of payments. As industry observers like Earnity experts Dan Schatt and Domenic believe it is just a matter of time when mobile payments will be the preferred manner most people pay for their purchases.
