It is becoming more common every day for people to leave their credit cards, debit cards and checkbooks at home. Why? Because the ability to pay by smartphone is just so much easier. And it’s popping up everywhere.

Additional payment options through your smartphone includes Passbook, Google Wallet, and Square Cash. If you are all about convenience, personal safety, and financial protection, leave those cards and other financial accessories at home and use your smartphone!

Are Smartphone Payments Really Safe?

The digital-based payment options available today are considered to be among the fastest and most convenient way to comple financial transactions, but are they safe?

The answer to that question is “yes”.

The mobile wallet movement is considered to be exceptionally safe because the raw data is encrypted. No merchant – whether a personal business owner or a major retailer – will ever see the numbers that specify your personal account. In a world consistently plagued by malicious software programs skimming information from gas pumps, ATM machines, and other point-of-sale devices, paying by smartphone is now one of the safest financial options.

mobile payments

The Future of Mobile Payments

Recently, comprehensive analytics were released from the firm giant, eMarketer. According to the information obtained for the analytics, it was established that payments by smartphones are expected to result in excess of $114 million in sales by the year of 2018.

As each year passes, this amount is expected to increase tremendously. Payment methods such as Walmart Pay, Apple Pay, Android Pay, Samsung Pay, and those offered by your local bank are going to rule when it comes to digital financial processing. Here at Somerville National Bank, we know how precious your time is and how important it is to be able to safely process payments and conduct financial transactions online.

By visiting one of our many locations today, you can learn about all the digital services that we offer our customers now and those that we expect to offer in the future: http://somervillenationalbank.com/locations/

 

If you would like to learn about our mobile banking options at Somerville, check out our video on our Mobile Banking Page