Ever thought that you can pay at any shop or store from your Smartphone, well a highly innovative start-up company with the name of Square has developed a real-world based payment application that will be operational from your mobile device. At present this technology by Square is only limited to 50 vendors across US but it is expected that this innovative method of e-payment will be an instant success once more of the businesses will start adopting it.
How the Virtual Wallet App will Work?
To use this service, users will have to download “Card Case” which is a virtual wallet app. The Card Case app will eventually add a virtual credit card number for each of the vendor for the facilitation of payments. Once this payment service is ON, users visiting any shop will just have to pull-out their card and tap on “Start tab” that will mark them as an active shopping customer.
The teller then sums up the purchases and starts a scan for any active customers having virtual wallet app activated, it then selects the appropriate Card Case app user and request payment from them. In this way customers can enter and leave the shop with their shopping bags full without ever having to take their wallet out. Good thing is that there is no need of paper receipts and this payment system also supports multiple of businesses that are supported by Square.
Card Case app is not merely available as an app that can be downloaded simply from the App store, you first have to visit a retailer that is participating in this deal. The retailer will in-return scan the card and a text message containing a link for setup will enable you to download the app. For more information about this innovative venture of Square, you can visit the official website of Card Case app and Square.
What do you think about this payment system? What might be the security risks? Do share your thoughts with us in comments.