What is the function of mobile payment systems in e-commerce? 🔊
Mobile payment systems in e-commerce provide consumers with a convenient and secure method to conduct transactions using their smartphones. They enable quick payments through mechanisms like near-field communication (NFC) or QR codes, enhancing the shopping experience. These systems also gather transaction data, improving customer insights for businesses, and can reduce the need for cash or traditional credit/debit cards. Additionally, they often integrate loyalty programs and promotional discounts, increasing customer engagement and retention. By streamlining the checkout process, mobile payment systems drive sales growth for e-commerce platforms and improve customer satisfaction.
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