According to the research
conducted by Gartner, payments through smartphones have increased the user base
to over 141 million users. There are four main models of payment system through
mobile. Premium SMS - transaction-based payments, Direct Mobile Billing - this
system represents 70% of digital content purchased online in some sectors in
Asia, WAP mobile Internet payments - as Amazon Payments, PayPal or Google
Checkout NFC (Near Field Communication) - many of the big banks and credit
cards already have their own mobile applications that allows you to check your
balance and also transfer funds. Visa and Bank of America are using this service
for payment system based on the Visa payWave technology and In2Pay some of the
best known mobile payment services are:
PayPal: offers the service of PayPal Mobile Express solution as the
mobile company that works as application or through internet. According to
research by LeWeb, this year the company will manage $700 million through
mobile payments.
Dwolla: is a service that combines dollar, web development through
P2P payment and inexpensive exchange. The person can register through Facebook
or Twitter account, and thus send money to its contacts via DM on Twitter, or a
personal message on Facebook.
Venmo: is free and easy to use. It is a service based payment SMS on
every transaction made through Venmo, each party automatically receives a
Venmo account in which the balance of your account resides. The transaction
process is through SMS, the actual payment online has all the security measures
to ensure customer satisfaction.
Square: is a mobile payment service founded by Twitter co-founder
Jack Dorsey. It is a service that turns any smart phone into a credit card
reader.
TabbedOut: is an application that allows linking a credit card to
pay through a smartphone.
ZMAZZ: is a mobile banking application platform and totally
independent on traditional banks mobile payments that scan and keep receipts in
a personal online safe ZMAZZ. This service is owned by Euro-Wallet.
Bitcon for Android: is an application that works like Bitcoin
wallet. It is functional and supports scanning QR codes for transactions. It
also allows users to receive bills by mail purchases.
Use of mobile payment system is a
strong trend in Asia and is gradually becoming a trend in the United States and
Europe. However, it is not yet ready for the mass market; it will take about
four years to take off. The main obstacle is the adaptability of consumers. It
will take time to convince them with all the security measures, and then only
they will pay with mobile phones instead of cash or credit cards.
No comments:
Post a Comment