Payment of small transactions through mobile
money is growing rapidly and usually the volume of these small transactions is
very big in size and can be used for person-to-person transfers, bill payments
and small retail transactions. Mobile money account now has become an
alternative to bank account and might replace it completely in near future. The
e-wallet or mobile wallet is not linked with any bank account and totally works
on virtual money concept, increasing mobile and internet penetration in
different parts of the world causing more and more people using this new but
powerful technology. Google wallet, square, Paytm wallet, Apple pay and now
even Facebook with their unique feature to transfer money via messenger going
to make the payment process simpler and much easier. Mobile payment with wallet
technology is well accepted and awarded technology compared to bitcoins which
faced a lot of oppose initially.
#MobilePayment #Digital #e-wallet
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