Let’s talk mobile payments. Most mid-range and high-end smartphones today are boarded with NFC. NFC is the technology that allows for making mobile payments. This was a feature that really became popular in 2015 and 2016, but is now overshadowed by bezel-less designs and fancy digital assistants. Is being able to make mobile payments still an important feature to you?
Much like the IR blaster, which was once a major new feature and now ceases to excite people, is being able to use a mobile device to pay for items in stores still cool? I mean nowadays, you can use even your watch to pay if the hardware and software permit it, and there are many other quirks such as being able to use fingerprint and iris scanning to verify identity. There are also apps and websites that accept mobile payments, and even some smart speakers allow you transfer money over the air if your phone is nearby.
If you ever cared enough to research mobile payments, you’re probably aware of some of the more popular services that exist. Android Pay is the main option on ‘Android,’ which is made by Google and relies on NFC to transfer money. It’s popular because it works on a ton of devices, across different software versions and many manufacturers. Apple Pay is the same thing for iPhone owners, but there’s also Samsung Pay and now LG Pay. Samsung Pay was the first to adopt MST technology, which is the same technology used in standard credit and debit cards. This means that it works just about anywhere that a credit card is accepted. LG Pay is the newest of the bunch and right now is only available in South Korea. It relies on a similar technology to Samsung Pay.
Just this week, we received word that LG could bring its mobile payment service to the US with an announcement of a new phone. We still don’t know what the phone will be called, but we expect it to be flagship caliber just as if it were LG G7. We saw a leak in the news this week, showcasing a bezel-less smartphone and sleek curves. Signs point toward LG Pay releasing in June of this year with the new phone.
Later in the week, eighty banks and credit unions added support for Android Pay. As we learned at CES 2018, Android Pay will soon get a rebrand to Google Pay and unite with Google’s various online payment platforms such as Google Wallet. The changes are still occurring, and a new app could well be on its way to take place of the current Android Pay application. This could mean change including how the service works and how consumers will go about making a payment in stores.
This brings us to our poll of the week. Do you actually make mobile payments? If so, what type of device do you use and how frequent are you holding it up to the scanner? Would it be a deal breaker if your next phone lacked the technology needed to make a mobile payment? Drop a comment letting us know and be sure to vote in our weekly poll down below. The poll will remain open all week and we look forward to hearing your response.
Below are the major stories from this week.