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May 28, 2014updated 22 Sep 2016 1:22pm

10 of the most innovative m-payment technologies around today

Turn your mobile into your wallet.

By Vinod

As everyone knows, carrying cash is so last century. Consumers are increasingly embracing payment methods using their mobile devices, which are less likely to get lost and are seen as more reliable. But with so many technologies around, who should you trust with your money? Here are ten of our favourites…


Casio EPoS/PayPal

Famous for its watches, Casio also makes EPoS (electronic point of sale) terminals where consumers pay for goods, and the company has recently announced it is teaming up with PayPal to create a new payment system using its mobile app.

First, the app alerts the user to nearby shops or restaurants that accept PayPal. Users can then ‘check in’ before they arrive, with their name and PayPal profile picture appearing on the Casio EPoS system – from there you can simply ask the staff to charge your bill to the pay-pal account, using the profile details in front of them.

Tedipay Magic


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Some services limit phone users to one particular OS, whether Android, Windows, or iOS. Magic goes beyond this though, and opens up mobile payments to users of any smartphone. Users simply need to point their smartphone at the Magic terminal and confirm the amount by entering PIN on their phone. Magic also includes loyalty points and customised coupons to encourage merchants and potential customers alike.



Co-founded in 2011 by two brothers from Ireland, Stripe is the one of the fastest growing international payments companies around, and was recently valued at $1.75 billion. The platform accepts 139 different currencies, including Bitcoin, and automatically handles all necessary conversions and performs daily deposits in its users’ bank accounts.

Mini Checkout

Mini Checkout

Currently on trial at selected Nisa stores, RMS’s Mini Checkout app, available for Android with an iOS version coming soon, scans the barcodes of items and directly charges the customer’s bank account, meaning they no longer have to wait in long queues.

When exiting the store, shoppers then scan a generated barcode on their smartphone against an optical scanner to verify their digital receipt for security purposes. In return, the app takes 1.5% of each transaction, with the retailer taking the rest.



Away from dealing with shops or businesses, WeSwap instead provides an alternative way to exchange currency, allowing people to swap directly with one another, thereby avoiding expensive bureaus and banks who charge commission on top of the interbank rate.

The app offers accurate mid-market exchange rates, updated in real-time, to provide consumers with the best possible deal, charging a fee of 1% to complete the swap. Friends can also exchange together for free, for life. Travellers can access the funds from their pre-paid MasterCard and they can use this at an ATM or point of sale.


Intelligent Environments – Pebble

Wearable technology devices are already big news, and will likely transform the way we both work and play. The Pebble smartwatch is one of the leading devices on the market, and recently announced it would be supporting apps. Intelligent Environments has now developed the world’s first smartwatch bank, which enables users to view their live bank balance without needing to visit an ATM, go into a bank or locate and log into a smartphone banking app. Users can also view recent transactions and the app even vibrates when the user nears their overdraft limit.




Not the jobbing R&B star, but a new way style of mobile identity platform, Usher allows users to authorise third-party transactions, make online payments, access ATMs, or make in-store purchases with only their mobile identities. It also includes biometric security measures to ensure all your data stays safe.

Logic Group

The Logic Group

Security is always a concern when banking, and this nervousness is still preventing many phone users from embracing mobile banking. Payments and loyalty provider The Logic Group is looking to overcome this by becoming the first company to provide in-depth point-to-point encryption (P2PE) technology to ensure your data stays safe.

Point-to-point encryption (P2PE) significantly reduces the risk of an organisation suffering a damaging data breach by ensuring that they never ‘see’ or hold payment card details, as card data is instead encrypted within the secure environment of a PIN Entry Device, and it is only decrypted within a compliant data centre, prior to submission to the acquiring bank.



Sometimes, convenience is all we want whilst shopping, and Powatag could be the service to provide that. Launched in March, the app allows the customer to simply point their device at an item and click confirm to buy. All data is stored on the smartphone, making the process nearly instantaneous, with only two swipes of the screen needed.



Small retailers are increasingly embracing mobile payments as a way to accelerate purchases, and also as a way to stand out. iZettle encourages this by allowing small businesses and sole traders to accept card payments using a smartphone or tablet and a connectable card reader, for a fraction of the cost of traditional card terminals. iZettle was the first to introduce its Smart Rate pricing structure, which means transaction fees can drop from 2.75% to as little as 1.5% depending on volume of sales.


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