Introduction
Mobile payment is the most convenient way of paying for goods and services, but it's also an increasingly important part of doing business. More people are paying with their phones than ever before, so it's important to get familiar with this new payment landscape and make sure that your business isn't falling behind on security measures or missing out on opportunities for saving time and money as a result.
The mobile payment revolution is here.
Mobile payments are on the rise, and they're growing faster than any other payment method. In fact, mobile payments are expected to reach $1 trillion in the next decade. That's a lot of change!
In this section of On-the-Go Success: Mobile Payment Strategies for Freelancers, we'll review some key statistics about how fast mobile payments have grown over time and why you should be using them now if you haven't already (it's easier than ever--we promise!).
Mobile payment options can help you save time and money.
Mobile payments are convenient, secure and can help you save time and money. Here's how:
Convenient: Mobile payment apps make it easy to pay for services or products with your phone. All you need is a credit card on file and the app will automatically process the transaction when it's time for payment--no need to type in any complicated information or wait around while someone else pays at the counter. This means less hassle for both parties involved in making a purchase!
Secure: Because these transactions are conducted through an electronic system instead of cash or checks (which can be lost), there's no risk of theft when using mobile payments like Apple Pay or Venmo as long as all necessary precautions are taken before making a purchase (e.g., not giving out personal information until after completing said transaction). Plus, they're backed up by companies who have invested millions into developing secure systems; that means no one can access them without permission from either party involved in making said purchase(s).
What you need to know about mobile payments.
Mobile payments are growing in popularity. With the rise of smartphones, people are increasingly turning to their phones as a way to pay for things. Mobile payments are convenient and easy to use: you simply tap or scan your phone at checkout and you're done!
Mobile payments are also secure, as they use the same encryption technology that banks use when they process credit card transactions online or over the phone (called EMV--Europay MasterCard Visa).
While mobile payment options are becoming more popular overall, there is still plenty of room for growth within this market segment because many businesses do not yet offer them as an option on their websites or apps.
The mobile payment market is expected to grow to $1 trillion in the next decade.
As a freelancer, you have an opportunity to capitalize on this growing market. The mobile payment industry is estimated to reach $1 trillion by 2020 and grow by 50% in the next two years. This growth presents an opportunity for you as a small business owner: if you're not already using it, now is the time to get started with mobile payments!
Managing multiple accounts and cards is a hassle, but it doesn't have to be.
If you're like me, your freelance income comes from multiple sources. And if you're also like me, managing all of those payments can be a real hassle. I've been known to have at least three different cards in my wallet at any given time: one for my personal spending, one for business purchases and another one specifically designated as "emergency cash." It's a lot of work just keeping track of all those accounts and cards!
But it doesn't have to be this way. There are apps out there that will let you manage all these accounts in one place--and even better yet: these apps keep track of everything so that no matter where or when an expense happens (or even how much), they'll know exactly what's going on with each individual transaction! This means no more carrying around multiple wallets or worrying about whether or not someone has paid back their share after splitting the bill several months ago...and best yet? These apps can even help manage spending habits so that overspending isn't an issue either!
There are a few things you should consider before using your phone for payments.
To ensure that your phone is safeguarded, there are a few things to consider.
Make sure you use a secure password.
Make sure you have the latest version of the app.
Make sure your phone is secure and protected by a case or screen protector that prevents scratches or cracks from affecting its functionality (especially if it's an older model).
Ensure there's enough battery life for whatever activity you're doing at the time--don't let yourself run out! It's also important to keep track of where in town has outlets available so that if necessary, charging stations can be used during breaks between appointments or meetings with clients/customers/etcetera... This will help prevent any unwanted delays when trying to make payments via mobile wallet apps like Apple Pay or Google Wallet; these services require constant connectivity with Wi-Fi networks so they don't drain battery power too quickly while also requiring constant communication between devices which drains battery even faster than usual due mainly due their high volume usage rates during peak hours such as lunchtime rush hour traffic jams where everyone seems intent upon getting somewhere fast but ends up taking longer than expected because everyone else is trying too hard."
How can I keep track of how much money I'm spending?
If you're looking for an easy way to keep track of how much money you're spending, there are a few options.
A budgeting app or spreadsheet
The cash envelope system
A notebook with a column for each month and category of spending (e.g., groceries)
Which apps are best for making secure payments?
When choosing a payment app, look for one that has built-in security features. If you're using a credit card or bank account to make payments, the app should be PCI compliant and have good reviews from other users.
It's also important to consider how easy it is to use the app--if it doesn't fit your lifestyle and needs, then it won't be helpful in the long run.
What's the most secure way to pay online?
When you're shopping online, it's important to use a secure connection. This means that when you log on to a site and buy something, your information is encrypted and protected from hackers.
If you're using a debit card instead of a credit card, make sure that the purchase amount is less than what's in your bank account--and if it isn't, make sure there are enough funds available before making any purchases. Debit cards aren't as secure as credit cards because they don't require personal information or identification; therefore they may be easier targets for theft when used online or over the phone (think: phishing scams).
Password protect everything! Your computer should have password protection enabled by default; however if not it's easy enough to do so by going into settings and adjusting where necessary. As far as passwords go: longer is better; mix letters with numbers; use punctuation marks where appropriate (but avoid !@#$%!). Lastly but most importantly: never share passwords with anyone else ever under any circumstances whatsoever!
More people are paying with their phones than ever before, so it's important to get familiar with this new payment landscape and make sure that your business isn't falling behind on security measures or missing out on opportunities for saving time and money as a result.
Mobile payments are growing in popularity, and more people are paying with their phones than ever before. This means it's important to get familiar with this new payment landscape and make sure that your business isn't falling behind on security measures or missing out on opportunities for saving time and money as a result.
You might be wondering: "How can I make mobile payments work for me?" Here are some tips from the experts at Intuit:
Conclusion
Mobile payments are here to stay, and they're going to change the way we do business forever. It's important for freelancers like yourself to keep up with this new technology so that you can take advantage of all the benefits it offers: from saving time on errands and banking transactions (because who doesn't love those?), through increased security measures that allow you more control over who sees your personal information when making purchases online.
