Term: Mobile Payment

« Back to Glossary Index

A mobile payment is a payment made from the consumers “electronic wallet” or “digital wallet”. In other words, it is made from an app on his smart phone.
These payments are sometimes called “Touchless payments”.

There are two competing technologies for making mobile payments. The first and possibly better known technology is NFC (Near Field Communication) which is used by ApplePay and Android Pay phones and tablets. Once the app is activated, the telephone is simply placed near a compatible terminal and the payment is made.

The second technology is called iBeacon and is a Bluetooth based technology. The iBeacon camp does not have as many big name players but it does have some advantages. The Bluetooth technology has a larger range of communication and is capable of two-way communication so the merchant can transmit ads to customers in the store. Both Apple and Android based apps for iBeacon are available.

« Back to Glossary Index
Get the Best Partner for Your Business
Average Rating:
Total Number of Reviews:
  • September 12, 2017
    Carlos P.
    good service
  • August 15, 2017
    Russell S.
    Very educational
  • July 11, 2017
    John W.
    So when I get my monthly statement I have been getting it from different people. It needs to come from ESP. It gets missed or goes to junk. John Williams
  • May 1, 2017
    Brannan M.
    Great service
  • May 1, 2017
    Justin S.
    Great customer service! Blake handled everything so professionally and swiftly! Would highly recommend them!!!!
Full Star Created with Sketch. Half Star Created with Sketch. Empty Star Created with Sketch.