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Many banks, companies specialised in technologies and application developers are betting on mobile payment. It won't be long before our smartphone becomes a virtual wallet. Even loyalty cards will be seamlessly integrated.
Smartphones now come with ever more features. They're no longer just phones with a directory, internet access, and a camera. You can also entrust all your finances to your device: you just need the required applications and accessories.
Many Belgian banks have developed fast and secure payment applications on smartphones. The Bancontact/Mister Cash application in particular allows small transactions (up to 125 euro) between two smartphones.
However, even more radical changes will allow you to leave your wallet at home for good. With a chip or a Near Field Communication (NFC) sticker, you can communicate wirelessly with other devices incorporating NFC technology to a maximum distance of 10 centimetres. This will offer you, as a customer, the opportunity to pay your groceries simply by placing your phone against a box equipped with NFC technology at the checkout.
The possibilities are endless: from vending machines for drinks and bread to bus and concerts. No code will be required for small amounts. A simple click on your phone will be enough to complete a transaction.
Good news also for independent professionals and freelancers who want to receive payments on the go. Mobile terminals are currently gaining popularity. Simply "clip" a small accessory on your phone so your customers can pay by card. Practical for GP doctors, as well as plumbers, couriers or electricians. The key advantage? Faster payments.
Paying applications via Orange
Currently, Orange offers its clients the possibility to buy applications and games on Google Play and Windows Phone Store without a credit card number. Payment is simply handled via their mobile phone invoice or the credit on their prepaid card. Orange, formerly known as Mobistar, was the first Belgian operator to launch this service in 2013. With great success, since five months after this launch, our clients had already bought 260,000 applications and games via Android smartphone.