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Mobile credit card competition heats up

June 30, 2012

According to many industry experts, the mobile credit card market is extremely competitive, with some of the biggest brands in the world hoping to take advantage.

According to many industry experts, the mobile credit card market is extremely competitive, with some of the biggest brands in the world hoping to take advantage.

In a recent article for Search Engine Journal, Dave Polksy said that the users should know about the pros and cons of different systems before deciding which firm to sign a deal with. One of the biggest brands, Google, recently introduced a digital wallet system, which the source notes had an advantage over others because it had been introduced early on. However, he says that one of the draw backs is that it can only accept credit card payments and not transactions from bank accounts.

He also points to other brands who have been developing similar technology.

“Visa is also launching their own mobile payment option,” Polsky writes. “Users with Visa-approved, NFC-equipped mobile phones will be able to link their smartphones to their Visa cards and make in-store payments.”

More organizations than ever have been using mobile payment systems to sell products. In a recent statement, Sage North America said that more than 30 branches of Girl Scout troops had used a mobile credit card terminal to sell its legendary cookies.

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