Final answer:
Augmented reality is not one of the most common technologies applied in mobile payment apps; instead, technologies like NFC and QR codes are prevalent. AR is more often used to enhance experiences in different contexts such as art. Mobile payment systems are important for financial activities, especially in areas with limited banking infrastructure.
Step-by-step explanation:
The statement that augmented reality (AR) is one of the most common technologies being applied in the area of mobile payment apps is false. Instead, mobile payment systems primarily use technologies such as Near-Field Communication (NFC), QR codes, and secure payment protocols. AR is more commonly used for enhancing user experiences in different contexts such as art exhibitions at the San Diego Museum of Art (SDMA) or in other immersive applications by artists like Nancy Baker Cahill, Beatriz Cortez, and Alejandro G. Iñárritu. Meanwhile, mobile payment technologies contribute to financial inclusion by allowing access to banking and payment services, particularly in developing countries where traditional banking infrastructure is limited, as evidenced by shared-phone programs funded by Vodafone and Masbabi.
During the COVID-19 pandemic, there was a noticeable shift from using hard currency towards more abstract forms of payment, like mobile apps and cryptocurrencies such as bitcoin, a virtual currency generated through solving complex mathematical problems. Technologies like the internet, cell tower networks, GPS, and voice activation, which make smartphones smart and support various apps including mobile payments, were developed with government support. Innovations such as mobile payment systems play a pivotal role in financial activities, but AR, while transformative in many areas, is not a common underlying technology for mobile payments.