Are you dizzy keeping track of all the mobile payments announcements? Its seems like every other day a new company throws its hat into the mobile payments arena – from Apple Pay, Android Pay, SamSung Pay to coming soon LG Pay, Chase Pay, and Walmart Pay.
These digital wallets share one common feature – instead of swiping a credit or debit card, you hold your smartphone up to the payment terminal to pay. Most offer tokenization services that substitute a user’s card details by generating a one-time dynamic code for each transaction with random numbers to reduce the risk of fraud. For the average user, the differences are slight. Q INSIGHTS latest Infographic highlights what you need to know. For more details read on.