Advanced mobile payments, including NFC, are gaining traction with consumers and merchants as a new form of payment.
Here’s what you need to know about the technologies.
Credit card issuers are also embracing advanced mobile wallets.
Here are some tips for setting up your own advanced mobile wallet: *Don’t use your smartphone for any payments you don’t have a credit card to use.
If you have a phone that doesn’t have NFC, make sure your payment card isn’t one that you can’t use.
*Never leave your smartphone unattended in a public place or when it’s in motion.
*Payments can be processed using only your smartphone or a mobile payment card.
If the payment doesn’t arrive, try using your other phone or a compatible device.
You can also buy cards from retailers that accept credit cards or check out your credit card at a bank or other financial institution.
You don’t need to have a card or bank account to make a purchase.
If a merchant can’t process your payment, you can also cancel the transaction or try a different merchant.
*Make sure your mobile payments are in your bank or credit card wallet, and not in another wallet, such as an online shopping cart.
*When you make a mobile payments transaction, make it clear which payment method is accepted.
This is particularly important if you make multiple payments.
If it’s a phone payment, try to include the credit card number and expiration date in your transaction, as well as the mobile payment method you used to make the payment.
*Don�t use your credit or debit card to make multiple transactions at once.
If possible, use a different payment card each time you make mobile payments.
You may also want to change your cardholder information so you can be recognized by the card issuer.