Monday, 7 April 2014

"Mobile Money is the Future" - Find Out More...

Currently, our world is booming in technological advances. Advances that the human race could only have dreamed of 50 years ago - are now in our front rooms, our offices, and our hands. Smart phones are without a doubt one of the most popular pieces of technology at the moment, and the majority of us can’t manage a day without our phones, keeping us constantly connected.

The new contactless payment system which has been rolled out around the UK, allow users to pay for any item under the value of £20. However complaints have been raised with numerous banks that some users are having money taken out of their bank, without their permission, which has caused some controversy over the system. Major banks have responded saying that cases like this are ‘extremely rare.’

However much controversy previous systems have been raising, it seems to be working as similar payment methods are being rolled out across the board. The new system named “PayM” will soon be available for 9 out of 10 current accounts, meaning that users can send contacts on their smart phone money via this method. This new payment system which will be appearing on mobiles will be linked to your online banking, thus preventing the risk of unauthorised money being taken. Hopefully this extra security feature will keep payments safer than before.

Rob Skinner of Paypal UK said “mobile money is the future” and judging by the rapid way that mobile culture is spreading, we would have to be inclined to agree.

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