Live a cashless life and pay with your cellphone!

Sure, coins and notes will never completely disappear in our society. However, since major players like Google and MasterCard have joined hands, it is possible to transfer the entire payment experience from the plastic credit card or traditional banknotes to a mobile device.
A few months ago, Google and MasterCard brought to life “Google Wallet”, a new step in moving customers away from credit cards and banknotes. Google Wallet is a mobile application that will turn phones into wallets. On the one hand, this gives customers the opportunity to save time and money while shopping. But on the other hand, it gives businesses the opportunity to strengthen customer relationships by adapting rewards or product deals to the needs of the customer.
In fact, the idea is quite simple: instead of deciding which credit card you are paying with in a store, you simply pay with Google Wallet, which works through an app on your smartphone. The only thing you need to do is tap your phone on the so-called “google bypass reader”  that can be found at checkout in several stores. Thanks to your existing credit card credentials that are stored, safe and sound, to a secure microchip on your phone, the payment is executed automatically. On top of that, loyalty rewards, product deals or purchase history can be easily integrated In the application, since the use of a personal smartphone enables merchants to identify customers in a more efficient way.
Will mobile devices eventually kill all of the plastic cards and bankotes in our wallet? Certainly not. But at least, this cashless initiative offers a convenient solution for digital natives aiming for an efficient way of in-store paying.

Thomas Catteeuw