Global technology intelligence firm International Data Corp (IDC) predicts worldwide consumer mobile payments will annually account for nearly $4 trillion in transactions by 2020. In July, Starbucks announced mobile payments account for 30 per cent of transactions in its U.S. shops, and its reward system is the same whether you use a card or mobile app. Mobile payments are only limited to the maximums on credit, debit, prepaid cards or bank accounts, and as smartphone apps, they free up wallet or purse space. The funding source, the credit card information and bank account information is all completely protected and never passed to the vendors. And it’s a good idea to have a bit of cash and maybe a spare credit card to get you back to where you’re staying.

Source: thestar September 20, 2017 03:56 UTC