It’s great to have all of the technologies we have today including; computers, laptops, tablets, mobile phones, bluetooth, and so much more. It seems we have an invention or innovation for almost everything and it’s great to be a part of such an amazing technological time. One of the great technological innovations over the last few years is the the smart wallet. A smart wallet is a smart mobile phone (application) or device. These applications have many different names including, but not limited to: smart wallet, mobile wallet, mobile billfold, virtual wallet, digital wallet, etc. Below is a short list in no particular order of the most recent companies in the mobile wallet market, that are bringing these types of payments and technologies to the mainstream. I have also included links to my references courtesy of the great writers at Tech Crunch.
MasterCard – PayPass
These are just a few of the mobile wallet and payment technology providers. I am sure there are many more to come. Technologies that play important roles in these advances are also gaining momentum. One of these technologies, P2P (Peer to Peer or Person to Person) payments is playing a big roll in the mobile wallet commerce world. Many of the bigger banks (Chase, Bank of America, and Wells Fargo) rolled out their platforms for P2P payments a few years ago, although it’s just recently these payments are starting to catch on and gain popularity. As people continue to become more comfortable with online and mobile purchases, the amount of these transactions will only continue to grow. Online and mobile payments pioneer ,PayPal, has offered P2P payments via the Web as a way for people to exchange money digitally for quite some time. Now you can also use PayPal’s downloadable mobile apps to send and receive money via a smartphone. Click on the BankRate.com link below for a complete informative guide on P2P information published by BankRate.com.