Currently, our world
is booming in technological advances. Advances that the human race could only
have dreamed of 50 years ago - are now in our front rooms, our offices, and our
hands. Smart phones are without a doubt one of the most popular pieces of technology
at the moment, and the majority of us can’t manage a day without our phones,
keeping us constantly connected.
The new contactless
payment system which has been rolled out around the UK, allow users to pay for
any item under the value of £20. However complaints have been raised with
numerous banks that some users are having money taken out of their bank,
without their permission, which has caused some controversy over the system. Major
banks have responded saying that cases like this are ‘extremely rare.’
However much
controversy previous systems have been raising, it seems to be working as
similar payment methods are being rolled out across the board. The new system named
“PayM” will soon be available for 9 out of 10 current accounts, meaning that users
can send contacts on their smart phone money via this method. This new payment
system which will be appearing on mobiles will be linked to your online
banking, thus preventing the risk of unauthorised money being taken. Hopefully
this extra security feature will keep payments safer than before.
Rob Skinner of Paypal
UK said “mobile money is the future” and judging by the rapid way that mobile culture is spreading, we would have to be inclined to agree.
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