Category: Mobile Payments

Over the years, contactless payment has revolutionized the payment industry. Its adoption has been on the rise globally, with the UK, South Korea, Canada, Australia, and the United States leading in the use of contactless payment. This payment system keeps evolving. This article walks you through the definition of contactless payment, how it works, the technology behind it, examples, its history, and the benefits of the payment system.

Over the past three decades, new technologies have completely changed the way that payments are made and accepted. The global digital payments market (which encompasses all transactions made using the internet, cellphones, and other automated devices) has exploded, and come to dominate the global payments market over the last few years.

Mobile Point of Sale systems (mPOS) is a relatively new way of accepting payments in the retail industry. As strongly expected, it has rapidly gained widespread use to become the go-to for small, and even medium-to-large scale businesses.