Paying with a card
Debit, credit and prepaid cards can be used to make purchases at a business in several ways. To understand the difference between debit and prepaid cards and credit cards, visit these pages. Online, you can purchase something by inputting your card information (the card number, expiration date, CVC or security code, billing address and your name). In person, these cards are enabled with magnetic strips, microchips and tap to pay technologies. The magnetic strip is the stripe on the back of your card; it is used by swiping your card through the reader. Newer cards may have a microchip, which can be seen on the front of the card. To use the microchip, you can insert the card into the card reader. Microchips were introduced because they are faster and more secure than the magnetic strip.
Some credit, debit and prepaid cards may also have a “Tap to pay” functionality that is enabled through near field communication. This technology, which is similar to Bluetooth, can also be used in key fobs, mobile phones and smaller cards to enable payments or other exchanges. Tap to pay can be faster and more hygienic than other payment methods, but it is not always available.
Paying through digital devices
Making person-to-person payments
Gone are the days when you had to rely on cash to make payments to friends and family. Now, there are a variety of online money transfer options that you can use. Most of these technologies involve uploading your card information to fund your digital account. When other people pay you, you can send your account balance to your bank account. Sometimes the service will charge you a small fee, so be sure to monitor your charges. Not all person-to-person payment tools are equal: do research into the security of each platform to see if they have had any security issues. You should also make sure that your password is unique and memorable so that you never get locked out of your account.
A super app combines a variety of apps into one mobile app. It serves as an aggregator so you can access different app functions without having to leave the app, such as social media, ecommerce and bill pay. Similar to the experience of going to the mall, super apps give you access to many services in one place.