Friday 17 January 2020
If you haven’t already heard, it’s 2020, the beginning of a new decade, the future is here and all that jazz. But what does that actually mean? Surely technology won’t suddenly change just because we’ve dipped into a new decade?
Well the truth is, technology is constantly progressing; fintech in particular progressed a lot in the last decade. In fact, the world of fintech progressed so much in the last decade, that the 2020s could actually see us all discarding the heavy wallets in our bags or back pockets and opting for lighter, digital payment methods.
Solid proof of this is the new partnership between mobile payment service Apple Pay and dining rewards app Liven. The Melbourne-based fintech startup announced today that Aussies using the Liven app, will now be able to make use of invisible payments with Apple Pay.
Ever used apps such as Uber, Ola, Foodora or Menulog to get from A to B or to order yourself a pizza? Well then you’ve used invisible payments already. What you love about those apps is probably the convenience. You don’t have to get your credit card or debit card out every time you order a ride or a takeaway, you simply confirm the payment in one or two taps.
Invisible payments are exactly that, invisible. This type of payment eliminates the need for cash, debit or credit cards, wearables, PINS and POS card readers. With invisible payments you’re basically paying by way of a virtual wallet that already has your details stored. And this is where mobile payment services such as Apple Pay, Google Pay and Samsung Pay come in, because these digital wallets use invisible payments in the exact same way.
The Liven app is a dining rewards app with its own digital currency (LVN). The Aussie app is free to download and available to use in Sydney, Melbourne and Brisbane at the moment. Amongst a sea of food-ordering apps already available in Australia, the minds behind this app are keen to encourage and reward people for actually dining out.
Similar to ordering an Uber, the Liven app is designed to make life easier for you. With the app you can search participating restaurants, cafes and so on and then pay your bill through the app. The idea is that, just like stepping out of an Uber or Ola, you shouldn’t have to worry about scrambling around in your physical wallet or purse for change or your bank card.
But of course, Liven hopes to make things even easier for Aussies with its new ApplePay partnership. As you can now settle your Liven dining-out bill with ApplePay, there is no longer even any need to enter all your credit or debit card details into the app in the first place.
Liven foresee that this new partnership will not only make the experience for new app users even smoother, but that it will also add an extra layer of security for customers making payments via the app.
Well if you’re a bit of a rewards junkie, then you might be excited to hear that every time you pay for a meal using the Liven app you accumulate LVN cash, which is Liven’s very own digital currency.
Every time you pay at a participating restaurant or cafe using the Liven app, you should get somewhere between 10% to 25% back in LVN cash. It’s almost like getting cashback on your payment, but specifically LVN cashback that you can choose to either build up and use to pay for your next dining out adventure, donate to a charity or send to another Liven app user.
Plus, in an age where you can pretty much use apps to organise and keep track of your whole life, Liven is no exception. With the LVN wallet you can manage payment methods and view your transaction history, making it much easier to keep track of how much you’re spending on dining out, hit your monthly savings goals and build up your stash in your savings account.
Feeling keen to learn more about the vast and ever-changing world of fintech? Why not head over to Mozo’s fintech hub for more news on innovative new financial technology.