The Future of Payments!


Since the first credit card was invented in 1950, people all over the world have grown accustomed to using it as their primary form of payment. Especially after the Internet became more advanced and online shopping became the norm, credit cards certainly  played a bigger role. Fast forward to 2016 and believe it not, credit cards and debit cards are slowly becoming obsolete. It’s crazy how something that has lasted for so many decades would soon become old fashioned, but as the industry progresses the new way to pay is coming from the likes of Apple, Android and Samsung, each delivering a similar approach of paying for things online and in-store.

Normally I would go ahead and break down each thing in it’s own category, but this time around I’ve decided to combine everything in one because of their similarities in nature. So to start off, Apple Pay, Android Pay and Samsung Pay are all mobile payment systems that store various cards in one place. The benefit to this is that all of your important information is stored in one location. Of course Apple Pay is only available on iPhones, Android Pay on Android devices and Samsung Pay on Samsung devices, but they all still the do the same thing. They make paying for things easier. As smartphones are being upgraded with the latest and greatest features, one of the most common is Near Field Communication, also known as NFC. This is built in most flagship devices and can be customized for Android powered ones. In this case however, it’s what allows customers to use payment systems such as Apple Pay in many brick and mortar stores. Customers simply tap their phone on a designated area (usually above or next to the credit card slit) and the transaction will go through. While in theory, this sounds absolutely amazing. You no longer have to pull out your wallet and instead, you can just use your phone which you probably have in your hand or pocket anyways. In the early stages of release, Apple Pay and Android Pay struggled to convince customers to use the features, especially when it failed to operate properly on numerous occasions. Since then, momentum has slowly picked up, but I think it will still take a couple years before people completely ditch the card and slide option.


I think all three of these payment systems are great and it’s certainly cool to see how people are trying to innovate and change the way people are doing things, but I’m still uneasy about paying for things with your phone. Sure, I have the Starbucks app and I pay through that, but that’s different than adding your credit or debit card, where a lot more is put at risk. Don’t get me wrong though. I love the idea and it’s clearly convenient, but I’m just not completely sold yet. I need to make sure that security can be put to rest and that I won’t be hacked by online hackers. I also have to make sure that it’s as easy to use as these companies are touting. I’m not going to give myself a time frame, but as soon as I know that it’s safe and reliable, you better believe I’m ditching my cards (plus it’ll makes my wallet thinner)…oh wait will I even need a wallet?


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