Technology has enabled various kinds of payment models. Explain one of the follo

Question

Technology has enabled various kinds of payment models. Explain one of the following and one benefit it could provide to a company or consumer:

A: Mobile Applications I can tell they getting the most popular and rated transactions in this days. One element I can use to proud it is that our cell phones are basically our lifelines, but there will depend on the Interface either you are using Apple or Android, And I mention this point to clarify that user since Itunes get to the market they will ask immediately for thecredit/debit card information and actually store it- Android does not do that to user since they have different policies which make the user fewer times to purchase by getting through the process all over again. In my opinion, I consider that this method has benefits since I will not like to have my bank accounts information all over the net. I consider safe that the interface at least ask you for the type of payment, shipping and all that kind of stuff simple as if you want to use a different payment or you want to send it to a different address, make a gift whatever is the scenario I consider that I like it more the second way of doing online transactions even though the most of the online users will choose a different payment model just because of that.

Respond and discuss one possible issue with this chosen technology.

Explanation / Answer

Mobile applications are a great way to pay for different things but a problem with them is continues attack by hackers trying to still your financial information.

With apple wallet for example, your financial information is synced on your account, if your phone is stolen and you don’t report it immediately, the burglars can make transactions with your information.

Everyone uses smart phones but I do believe the security must be enhances to avoid this kind of problems.

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