In this blog, I will mainly talked about mobile payments and several examples, such as PayPal, Ali Pay and Apple Pay.
As the development of technology and economy, more and more fintech company appears. It definitely changed the way of payments. I personally think mobile payments is convenient and time-saving. For example, when I go to Whole Foods, I can use my phone to tap into the machine, and the bill can be paid by Apple Pay. Also, when I purchase and shop online, I can use PayPal to pay for the online orders. In addition, when I need to transfer money to my friends, I can use Zelle Quick Pay, and it enables the immediate transfer. In the following, I will detailed talk about and explain the mobile payments application I used the most.
First of all, PayPal is the top one payment method when I shop online. Its service is widely spread over 200 countries and areas. Then, PayPal is one of the most secure mobile payments in e-commerce. For example, it has a restrict information checking system and user information protection methods. In addition, PayPal enables multiple types of currency including Chinese RMB, USD and EURO.
The next is the mobile payments I mostly use in China. It contains a lot of sub-service such as, social contents, entertainments and financial services. First of all, Ali Pay is like the intermediary between the online merchants and the consumers to avoid the e-commerce fraud. In addition, the mobile payments is popular and effective. For example, almost every store can pay through Alipay in China and some international merchants overseas. For example, when I go to the shopping mall by subway, I can show my QR code and take the subway. And when I arrived the destination, I use the QR code on Alipay, it can automatically been charged. Besides, Alipay contains the entertainment functions. For example, by using the Alipay, I can get points and plants a virtual tree by watering it using the points. When the trees grow up, you can actually get a box of fruits. Also, AliPay will help to plant a real tree in the sterile area to protect the environment.
From my perspective, because of the COVID-19 pandemic, more and more people are using online orders so that mobile payments is helpful and efficient. I personally did not use cash for a long time. I think mobile payments are really convenient and time-saving. What is your favorite mobile payments application?
