What are the pros and cons of mobile payment?

The advantages of mobile payment

1, convenient management

Users can carry out all kinds of payment activities through cell phones anytime, anywhere, and manage their personal accounts by inquiring, transferring money, paying bills, recharging, and other functions, and the users can also keep themselves informed of their own consumption information. This provides great convenience to users' life and is more convenient for them to manage their personal accounts.

2, small time and space limitations.

Mobile payment in the Internet era has broken the traditional payment restrictions on time and space, so that users can pay anytime, anywhere. Traditional payments are mainly cash payments, requiring face-to-face payments between users and merchants.

Therefore, there are great restrictions on the time and place of payment; mobile payment is based on cell phone payment, users can use their cell phones to make payments anytime, anywhere, without time and space constraints, e.g., users can shop and pay for activities on Taobao and other online shopping malls at any time.

Drawbacks of mobile payment

1, mobile payment exists a large security risks

Because of the rapid development of mobile payment, the security system has not been sound, vulnerable to Trojan horse, hacker attacks, and mobile payment platform memory has a large amount of personal information of the user and consumption records, and once these are accessed by the lawless elements, the consequences will be unthinkable, not only the user's personal privacy is violated, our citizens income and expenditure, the user's personal privacy is violated, the user's personal privacy is violated. The consequences will be unimaginable, not only the user's personal privacy is violated, the detailed data of our citizens' income and expenditure will also be leaked, if the security risks are not lifted, the mobile payment will not be able to develop smoothly.

2, mobile payment has an impact on paper money

Mobile payment in the transaction works using electronic money, with this payment method gradually popularized, the circulation of paper money will certainly decline, people use paper money less and less, so there are people proposed: "mobile payment means will eventually replace paper money. "

Mobile payment types

1, according to the size of the payment amount, mobile payment can be divided into small amount of payment and large amount of payment. The small payment business refers to the operator and the bank cooperation, the establishment of pre-deposited fees account, the user through the mobile communication of the platform to send the transfer instruction on behalf of the payment. The large amount of payment refers to the user bank account and cell phone number for binding, the user through a variety of ways to the cell phone bundled with the bank card transaction operation.

2, according to the payment of the payer and payee whether in the same site, can be divided into remote payment and on-site payment of mobile electronic payment. Such as through the cell phone to buy ringtones is remote payment, while through the cell phone in the vending machine to buy drinks is on-site payment.

3, according to the realization of different ways, can be divided into two kinds of mobile payment: one is through SMS, WAP and other remote control to complete the payment. The other is through the proximity of non-contact technology to complete the payment, the main proximity communication technologies are RFID, NFC, Bluetooth, 802.11 and so on.

The above content reference? Baidu encyclopedia-mobile payment