A Literature Review on Mobile Payment

MOBILE PAYMENT
A literature review on mobile payment

WHAT IS MOBILE PAYMENT?
• Mobile payment is payment of money that is made for a given product or
a particular service through the use of an electronic device.
• Such devices include smartphones, tablets and iPad.
• This technology can also be used to send money with the aid of
applications such as the PayPal and the Venmo.

WHAT ARE THE BENEFITS OF
MOBILE PAYMENT?
• The mobile payment technology is beneficial because;
• It eliminates the requirement of a physical wallet making it safer
• It is more secure as it involves the use of fingerprint scan or an PIN as
compared to a physical credit card.
• It also improves the cash flow as the customers will choose to pay with
the credit or debit cards.

WHAT ARE THE BENEFITS OF
MOBILE PAYMENT?
• There is also the reduction of expenses because;
• This approach of mobile payment eliminates the need to purchase
equipment that have an expensive point of sale.
• There is minimized use of paper and ink as one text receipts or send
emails to the customers avoiding the process of printing receipts.
• Mobile devices use certain app to make the payment successful.