Past, Current, and Future Trends of Mobile Payment Solutions

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Past, Current, and Future Trends of Mobile Payment Solutions

Let’s go back in early 2000s. Cash payment was the only option available in most countries. Card-based payment was on the rise and only rich people could afford it. Then, technology evolves and the era of smartphone begun worldwide. Today, we have more advanced payment methods than before in the form of mobile payment solutions. However, the history of mobile payments is as interesting as its present. Let’s dig deep into the early days of mobile payment. •

Mobile Payment Solutions- Yesterday It was 1997 when the mobile-based payment for services or goods was introduced by Coca Cola. The customers could pay for Coca Cola through an SMS in a beverage vending machine. Here the payment was made through an account linked to the user’s mobile device. Though this facility was useful for smaller amounts, or say micropayments, it is fair to mention that it has opened the doors of new opportunities for mobile payment technology.


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