VCpay a part of the mobile “payment revolution”

VCpay will soon join the mobile payment space, where a host of competing applications vie for market share through their own unique value combination of security, ease of use and compatibility. Read all about the current “payment revolution” below:

‘Land grab’ in mobile payment space

“How would you like to pay for that – cash, card or cellphone?” This is a question that just a few years ago would have baffled consumers, but today – with the pool of local mobile payment apps growing rapidly – it is set to fast become the norm.FlickPay became the latest local mobile payment app to join the likes of Zapper, SnapScan and VCPay, having launched in Vida e Caffè franchises last week. Similar to rival apps, using a QR code, FlickPay allows smartphone users (iOS and Android for now) to settle purchases by linking their credit card to the app and through integration with point-of-sales (POS) systems, settling their bill with a flash of the screen. A slew of similar apps is expected to compete in the space in the near future as companies and individuals leverage the mobile revolution and vie for a piece of the lively m-payments space. And, despite the sudden flurry of activity and associated propensity for hype – industry observers say mobile payment apps are no passing fad. Tech analyst Liron Segev, from TheTechieGuy.com says, in fact, what we are seeing is “the next frontier of unexplored space” – and it is a land grab right now. World Wide Worx MD Arthur Goldstuck says a payment revolution is under way as mobile technology has opened up another facet for retailers and consumers that was previously not possible. He notes mobile payment apps go hand-in-hand with traditional payment methods (cash and card) – rather than replacing them.

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Read the full story on ITWeb.

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