The online payment market has been able to overcome the biggest challenges of the year 2020 which is that of the Coronavirus. Mobile payments have provided the contactless and online payment methods that can be done even when the person has to stay in their home.
Online payments have been a lifeline and will continue to do so, making it possible for nearly anyone to do what they need such as shop by using their mobile payment app. It has become essential for those who need things delivered to their homes. Online payment is also needed to be able to send funds to other people that need money during the pandemic as many people are not able to work.
Making online has been vital for those who cannot leave their homes due to keeping safe from being infected by the deadly virus. There is a need to shop for food online and to make the payments necessary for other essentials such as the now infamous toilet paper. People go online to order face masks and other PPE items such as face shield so that they can keep safe from the virus when they step out.
There is no fear of being infected or passing on the infection by touching cash. Though there are mixed reports if cash like banknotes and coins can be the carrier of the COVID virus, it is better to be safe and to avoid touching anything that is handed over to you. There are some people who even steam-clean cash to ensure that these no longer have the virus. If a person is using mobile payments, there is no need to do those things.
Using a mobile device
There are enormous benefits because of what you can do on your mobile phone. You can make a payment transaction that gets recorded in real-time and these are typically instant transactions. You do not have to go to a remittance center or one of those money transfer agents to be able to send and receive funds. With a few clicks, you can do financial transactions online.
No need to pay using cash
Paying using cash due to the fear of being infected by COVID-19 might soon make cash payment transactions no longer acceptable. There is no one that wants to insist on cash transactions when you may just as easily send a payment using an e-wallet to anywhere in the world without having to touch anything aside from your mobile device.
Mobile payment apps
Some mobile payment apps enable you to send payment at a contactless terminal by clicking a button in order to scan the QR code. There is that near-field communication with the terminal. It makes mobile payments more convenient as you can use it for contactless terminals. When you make online payments because you can pay from everywhere and anywhere just by using your mobile phone. This method of payment takes away the hassle of having to deal with cash or needing to use using a physical card.