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Mobile Wallet Technology in Namibia and Armenia

            Mobile wallet technology or mobile money transfer comprehensively refers to the payment services that are performed via or by a mobile device and that operated under financial regulation. Consumers through mobile wallet technology are able to utilise their mobile phones to pay for a myriad of services and goods both physical goods and hard goods. Mobile wallets make use of near-field-communication (NFC) chips located inside tablets, or other mobile smart devices like phones to transmit payment information. (Handa, Saraf, & Maheshwari, 2011) When using a mobile wallet, all the customer needs to do is to open an application installed on their smart devices. He/she will then enter a PIN code and select the payment account they would like to use for that particular payment. They may also include any available customer rewards or special offers they wish to be considered for. To pay for the goods or services the clients will just tap their devices to enable a payment terminal and the information of the payment will be transmitted.
             Soft card and Apple Pay are just but a section of the provider of mobile wallet technology. Apple pay is a digital wallet/mobile payment service that is being rolled out by the company Apple Inc. This service allows Apple mobile devices owners to transact payment at online checkout and retail centres. This service employs wireless technology to communicate with POS (Point of Sales) systems using NFC. The NFC also called the secure element is a security chip that encrypted payment information as well as Apple's Passbook and Touch ID. (Cortesi & Chaki, 2011) This service is only compatible iPhone 5, 5C, 6, 6 plus, and the Apple Watch. Currently the service is only available in the US though the company is planning a global roll out.
             Soft Card uses almost similar technology to the Apple Pay service since they both utilise NFC technology. The service also allows for consumers to purchase goods and services through debit or credit card information that is stored on applications in their smart mobile devices.

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