MobilePay USA: Your Mobile Phone is Now Your Wallet

Mobile Pay

Nowadays, one has to carry around both their wallet and Phone. Imagine what it would be like if you were able to get rid of your wallet and replace it with your phone. This possibility sounds exciting. As a matter of fact, if MobilePay USA takes off, then there will be no need to move around with both your phone and your wallet.

MobilePay USA is currently an iPhone app (they promise to expand it to other mobile platforms) that replaces your credit cards and loyalty cards. You merely enter in your credit card data after which you can then pay for things with the click of a button. To enhance security, MobilePay does not store your personal data on your device- it’s securely stored in the cloud.

The app has a location element which adds to the ease of use. When you load it up, it finds the stores that are around you! You then chose the store that you are shopping in and make a payment. In addition, the app also offers a venue deals component too.

To make a payment, you choose the store your are shopping from and the card you want to use; you then enter in how much you want to pay and thats it!The payment is transmitted and accepted without you having to do anything. If the venue accepts MobilePay USA payments, they will be able to see that you just paid for a product.

The revolutionary aspect of MobilePay is that it doesn’t require merchants to install any new equipment. MobilePay works behind the scenes with existing services. All the consumer needs to do is download the app and enter their card number(s). Even though the concept of turning the iPhone into a wallet is not entirely new, many apps have tried it before, MobilePay is unique for unlike the other apps it just works without any new hardware.

From a security point of view, one has to ask "what happens if you lose your phone?" First and foremost, MobilePay offers a password lock and secondly you can block access to your cards from anywhere on the web. Finally, the risk of exposing your card numbers is virtually non-existent for as mentioned earlier on the numbers aren’t actually stored in the device itself but in a secure cloud.

Finally, what is the catch for one way or the other MobilePay USA has to make some revenue?  MobilePay makes money by taking 1 percent of every transaction which a vendor would pay for. The team notes, this is similar to the way American Express began; namely offering a perk at a small premium.
To visit their official website click here