4 Pros and Cons Of Mobile PaymentPosted by On

Mobile payment has been in the online business for years now. You can use it to pay bills, make money transactions and what not. But while it is a convenient payment option, it does have its share of cons. This article takes an elaborate look at the pros and cons of mobile payment.

Don’t take this the wrong way, paying from your phone does come in handy when you are lacking in credit cards and your wallet, but it has its shortcomings. That is just one of differences that you should look to. Here is what makes and breaks mobile payments.


  1. Privacy

The one thing about online payments is that no one can track your transactions. Companies like Apple take pride in the privacy of its users. They do not monitor or track who they are making payments to. Whatever payments you make, it is between you and the vendor.

Apple Play has proven to be the best example in this regard.

  1. Security

While there are issues of hacking, it is safe to say that mobile payment is still a secure option. You don’t have to use any information from your card or personal data to make a transaction. The retailer’s system has no access to the cardholder’s account number. Therefore, there is room for a malware or hacker to steal your sensitive information.

  1. Speed

One of the best things about paying through your phone is that it is fast. There are no requirements of PIN code or your fingerprints for the transactions.

  1. Not much stuff in your pocket

By feeding the credit card information into your phone, you don’t need to carry your cards physically.


  1. Costly

There is additional POS hardware that is required for you to make these mobile purchases. Unfortunately, it will take a huge bite out of your wallet for this. The NFC readers are not cheap and because of the changes in the credit card systems, you will need to upgrade your business soon.

  1. Hardware Incompatibility

Some of the older models of smartphone lack NFC capabilities. Therefore, if you want to make efficient use of your smartphone, you have to have a Near Field Communication or NFC reader.  If you happen to own an iPhone 5 or any typical Android phone, we recommend that you upgrade it.

  1. Your Phone Is Vulnerable To Theft

Your personal and credit information may be secure. But some of not will be vulnerable to theft. Considering that your phone is prone to pickpockets, you had best be careful where you go. Be vigilant of your phone in crowded areas and places like dark alleys and tunnels.

  1. Device failure

The batteries in your phone will not last forever. If you fail to charge your phone in time, your phone might shut down. Then you won’t be able to make any transactions at all. Be sure to charge your phone before you go to bed.

So there you have it; the pros and cons of mobile payments. Hope, it provides you a balanced picture of this new form of payment.

About Writer: David Cairns works as a blogger for UK Dissertation. He writes insightful write-ups on technology, online marketing and social media marketing. You can follow him Facebook | Twitter | Google+.


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