How do payments with your smartphone?


Pay with the mobile phone has been turned already in an option within reach of all. It is do purchases and pay them via the smartphone. You can already pay in everything type of establishments without the need for take cards nor money top.

Is a system single, fast, comfortable and insurance: is enough bring closer you mobile phone to a terminal to pay your purchases.

The payment via the mobile phone works thanks to the development of the wireless connectivity and the system contactless, that it allows making transactions between a mobile device and the fee-paying terminal with just bring closer the telephone. That use facility is that which has done him earn popularity quickly.

On the other hand, the payment with mobile phone not only allows pay in shops, also you can do shipments of small cash amounts between individuals, with a minimum amount of 0.50 euros and a maximum of 500.


What need to pay with the mobile phone in a shop


In Spain, 39% of users of smartphones already do payments with the, and the percentage is in permanent rise. To overall level the detail is already of 54%, which is equivalent to more than 400 millions of users all around the world.

The only requirement to enjoy this service is download the app of the bank in order to be able to do the payment.

The application works as a sort of virtual portfolio –or wallet, that is the name that receives - from which you can carry out different operations, among which is pay with the mobile phone or consult the state of the associated bank account.

To use one app fee-paying because of mobile phone is necessary to fulfill three simple requirements:

  • Have a mobile phone with technology NFC (Near Field Communication, a wireless system of short range that it allows exchanging details between devices. The most part of the smartphones of average and tall range already have this technology.
  • That the trade where it goes going to do the buy allows the payment through contactless.
  • That the smartphone has not been manipulated or, which is the same thing, that its operating system is just as it came when buying.


How do money transfers with the mobile phone


To send money with the mobile phone to other people is just necessary download the app of the bank. So much Bankia as the majority of the large Spanish financial organisations have added Bizum to its mobile applications to allow the shipment of small cash amounts between individuals.

In this way, are been able to do payments between individuals (from 0.50 until 500 euros) without the need for have the number of account of the recipient, just its phone number. This option is really attractive to settle at once those debts that are contracted on the day to day among friends, as pay a dinner when someone does not take cash or charge the amount of a purchased present between several.


A sure system


The security is one of the principals bazas of this system. Is absolutely sure pay with the mobile phone. For one thing, always se requests the code PIN for purchases of more than € 20, just as is done with the system contactless of the credit cards and debit. In addition, this condition you can modify in the majority of the apps so that before making a payment is requested always the PIN, be which is the amount of the purchase.



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Infographic Payment for mobile phone

Differences between a debit card and a credit card

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