It works in any store that allows "tap" payments.
With everything you're juggling as a small business owner, keeping up with an increasingly digital world can feel overwhelming -- and making changes to embrace new technology can sometimes be last on your list. If you're in retail, however, this shift is simply no longer optional.
The integration of payment technology brings wearables to the masses as a mainstream phenomenon. Not everyone wants a device that will track their steps or sleep patterns, but anyone can appreciate the freedom of going walletless.
Studies have shown that on average, we have to enter passwords eight times per day for the 10 different online accounts or applications we regularly use every week. You could use the same password for each, putting you at increased risk for fraud, or you have to rely on your memory for longer or more complex passwords. That's where biometrics come in.
Selfie pay could be coming to the e-commerce giant.
Canada sits high on a global list of countries ready to make the shift because this country has quickly advanced all those requirements. Ensuring the payment made on your phone is as safe as the card you use today is absolutely key. New security measures developed just for mobile payments keep your payment information secure.
The third-party payment app, which allows users to upload their credit cards and tap their phones to pay for purchases, will roll out sometime in the final months of 2015 for iPhone 6 and up. Unlike its widespread presence in the U.S., though, the Canadian app will only be compatible with American Express credit cards -- for now.
If banks don't improve their online user experience, their ability to sell consumer credit products, car loans and mortgages may become diminished.
MONTREAL -- Canada's financial institutions say they've developed voluntary guidelines for mobile payments that will work