In 2019, mobile payments took the lead as the most widely used payment solution worldwide and the corona pandemic and the accompanying fear of spreading infection has also had an impact on our payment habits. We have become used to contactless payments, therefore the shift from card payments to mobile payments isn't as big a step. However, it is expected that the increase in mobile payments here in Western Europe will increase by 65% by 2025.
It's estimated that mobile payments and payments using smartwatches already account for 12-15% of payments in store. Therefore, it is an advantage for you to accept payments with wallets. A wallet is an app on the phone that works like a digital wallet, to which you add your payment cards. The good news is that because your terminal is able to accept contactless card payments, it's also able to accept mobile payments. So when your customers ask if they can pay with their phone, you can answer - yes of course!
Because mobile payments with wallets like Google Pay and Apple Pay use the same technology (NFC) which is used for contactless payments with payment cards, mobile payments will work smoothly.
A lot of people today are shopping directly from their mobile phones. Therefore, it can be an advantage for you if your customers can pay with wallets on your webshop. This way, they don't have to leave the purchase flow to find their wallet and end up not completing the purchase.
If you don't accept mobile payments on your webshop today, you should check with the provider of your payment module (your PSP) and ask them if it can be added.
Apple Pay is Apple's payment solution. If your customers have either an iPhone or Apple Watch, they can use Apply Pay in your store. Let your customers see that you accept payments with Apple Pay and order stickers for free.
MobilePay is different from the other wallets and depends on whether you have a physical store or a webshop. If you have a webshop and your customers pay using MobilePay, the payment will function like a card payment. If you accept MobilePay in a physical store, it works differently and here the payment will be an account to account payment.
Google Pay is working on Android mobiles and on Google Smartwatch for payment, without requiring your customers to locate their physical payment card. Show your customers that they can pay with Google Pay in your store by ordering decals for free from Google Pay.
Samsung Pay is the payment solution available on Samsung phones. Samsung Pay has not yet been launched in Denmark, but is being launched regularly in new countries and has been launched in Sweden, so if you have foreign customers in your store, you may find that payment is made using Samsung Pay.
Now that we're talking about mobile payments, we'll just mention the possibility of in-app payments, which is primarily relevant if your store is relatively large. If you have a webshop and/or offer your customers to use an app, you can also offer your customers in-app payments. An in-app solution makes it easier for your customers to shop in your store using their mobile, as the solution is adapted to mobile, and your customers can therefore easily and quickly pay with their favorite card or wallet. In Nets we offer an SDK (Software Development Kit) that contains all the necessary payment components and makes it easy for your app developers to integrate in-app payments to your app.
You don't have to worry about security when your customers pay using their mobile. Wallets like Google Pay and Apple Pay are as secure as the payments cards. Neither PIN nor card information is stored on the phone, so fraudsters can't exploit or misuse your customers' payment cards. Google Pay and Apple Pay require security clearance when paying, where you either enter the code of your choice, use fingerprints or face recognition. If a phone is stolen, Google Pay and Apple Pay can't be used without security clearance.
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