Level Up your bill payment

Tuesday, March 5th, 2013

While MasterCard announcing MasterPass, a digital service that lets cardholders pay with most mobile devices, and Visa and Samsung are announcing a global alliance to accelerate mobile payment with app called payWave, more than 1 million U.S. consumers are already actively using an app called LevelUp to pay for their purchases.

You do not need a credit card, cash or a checkbook to pay for your coffee and burger. Everything you need is to scan a code on your smartphone using an application called “LevelUp”.

LevelUp is one of the latest innovations aimed at helping merchants avoid the 1.5-4 percent in credit card swipe fees and keep the ability to offer rewards to their customers. This is a shift toward mobile and digital payments.

The app works quite simply: it links to the consumer’s credit or debit card and does not charge any processing fees. But because this app is so new, creators are still working on it making changes and this can discourage business owners from switching to LevelUp. Nevertheless, the app became very popular and is steadily moving up.

The upside of using smartphone apps for businesses is that they’ve a negligible cost. And the downside is that the evolution of the applications may cause problems with payment processing.

But all in all, the retail purchasing is moving toward mobile devices. Consumers are changing the way they interact with each other and their money. And the moment when retailers will completely move from plastics to digital payment is just a matter of time.

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