Universal Approach to Mobile Payments

2009 ◽  
pp. 2280-2288
Author(s):  
Stamatis Karnouskos ◽  
András Vilmos
Keyword(s):  
Mobile Phones ◽  
Business Models ◽  
Mobile Commerce ◽  
Mobile Payment ◽  
Future Trends ◽  
Mobile Payments ◽  
High Penetration ◽  
Universal Approach ◽  
Further Development ◽  
Day By Day

An old saying coming from the telecom world states that nothing can be really considered as a service unless you are able to charge for it. The last several years have seen a boom in interest in mobile commerce, mainly due to the high penetration rates of mobile phones. Furthermore, there is evident the need for a real-time, open, and trusted payment service that can be used any time, anywhere, and that can handle any transaction in any currency. Such a service would promote not only content creating activities but would empower the electronic and mobile commerce area and kick-start new innovative services. The time is right for such a mobile payment service, because the infrastructure, the business models, and other conditions that favor its existence are realistic and in place (Vilmos & Karnouskos, 2004). Up to now, we have witnessed the rise and fall of several efforts in the area, ranging from realizing simple intangible good purchases, up to interaction with real points of sale (POS) and person-to-person (P2P) transactions. Day by day, new trials are initiated, targeting different sections in the MP area; however, there is still no solution that is open and widely accepted. In this article, we first introduce the reader to the mobile payment area, present the guiding forces behind it, and subsequently examine such an open, secure mobile payment approach that has been successfully designed, implemented, and tested. Furthermore we identify some midterm future trends that we consider will be of high importance to the further development of the area.

Universal Approach to Mobile Payments

2011 ◽  
pp. 1114-1119
Author(s):  
Stamatis Karnouskos ◽  
András Vilmos
Keyword(s):  
Mobile Phones ◽  
Business Models ◽  
Mobile Commerce ◽  
Mobile Payment ◽  
Future Trends ◽  
Mobile Payments ◽  
High Penetration ◽  
Universal Approach ◽  
Further Development ◽  
Day By Day

An old saying coming from the telecom world states that nothing can be really considered as a service unless you are able to charge for it. The last several years have seen a boom in interest in mobile commerce, mainly due to the high penetration rates of mobile phones. Furthermore, there is evident the need for a real-time, open, and trusted payment service that can be used any time, anywhere, and that can handle any transaction in any currency. Such a service would promote not only content creating activities but would empower the electronic and mobile commerce area and kick-start new innovative services. The time is right for such a mobile payment service, because the infrastructure, the business models, and other conditions that favor its existence are realistic and in place (Vilmos & Karnouskos, 2004). Up to now, we have witnessed the rise and fall of several efforts in the area, ranging from realizing simple intangible good purchases, up to interaction with real points of sale (POS) and person-to-person (P2P) transactions. Day by day, new trials are initiated, targeting different sections in the MP area; however, there is still no solution that is open and widely accepted. In this article, we first introduce the reader to the mobile payment area, present the guiding forces behind it, and subsequently examine such an open, secure mobile payment approach that has been successfully designed, implemented, and tested. Furthermore we identify some midterm future trends that we consider will be of high importance to the further development of the area.

Consumer and Merchant Adoption of Mobile Payment Solutions

2009 ◽  
pp. 1626-1639
Author(s):  
Niina Mallat ◽  
Tomi Dahlberg
Keyword(s):  
The Netherlands ◽  
Mobile Phones ◽  
Mobile Commerce ◽  
Mobile Payment ◽  
Mobile Service ◽  
Enabling Technology ◽  
Discussion Section ◽  
Mobile Payments

As payments by mobile phones are an enabling technology, the adoption of mobile payments is believed to significantly influence the successful emergence of electronic and mobile commerce. In recent years, several mobile payment solutions have been launched, including the Mobipay in Spain, Moxmo in The Netherlands, M-pay in UK, and Pan-European SimPay. With the exception of mobile service purchases, however, consumer and merchant acceptance of these solutions has remained marginal. We discuss consumer and merchant adoption of mobile payments and suggest drivers and barriers for this adoption. We also describe potential mobile payment application areas and identify areas in which mobile payments have the highest and lowest possibility to succeed. The information is based on extensive research conducted among Finnish consumers and merchants. The relevance of the results to other markets also is considered briefly in the discussion section of this chapter.

Consumer and Merchant Adoption of Mobile Payment Solutions

2011 ◽  
pp. 32-50 ◽  
Author(s):  
Niina Mallat ◽  
Tomi Dahlberg
Keyword(s):  
The Netherlands ◽  
Mobile Phones ◽  
Mobile Commerce ◽  
Mobile Payment ◽  
Mobile Service ◽  
Enabling Technology ◽  
Discussion Section ◽  
Mobile Payments

As payments by mobile phones are an enabling technology, the adoption of mobile payments is believed to significantly influence the successful emergence of electronic and mobile commerce. In recent years, several mobile payment solutions have been launched, including the Mobipay in Spain, Moxmo in The Netherlands, M-pay in UK, and Pan-European SimPay. With the exception of mobile service purchases, however, consumer and merchant acceptance of these solutions has remained marginal. We discuss consumer and merchant adoption of mobile payments and suggest drivers and barriers for this adoption. We also describe potential mobile payment application areas and identify areas in which mobile payments have the highest and lowest possibility to succeed. The information is based on extensive research conducted among Finnish consumers and merchants. The relevance of the results to other markets also is considered briefly in the discussion section of this chapter.

NFC Payments Overview

2017 ◽  
pp. 1-42
Keyword(s):  
Mobile Phones ◽  
Short Range ◽  
Near Field ◽  
Mobile Commerce ◽  
Mobile Payment ◽  
Near Field Communication ◽  
Point Of Sale ◽  
Mobile Payments ◽  
Close Range ◽  
User Friendly

NFC payment is the latest mobile payment technology for cashless transactions. Mobile payment is an application of mobile commerce which facilitates mobile commerce transactions by providing the mobile customer with a convenient means to pay. Many mobile payment methods have been proposed and implemented like user friendly, customer centric, merchant centric where security concerns are highly addressed. This chapter discusses the evolution of mobile payments that describes different technologies like SET, Barcode, Biometrics and also Near Field Communications that provides a platform for many applications for peer to peer transactions and other security features where confidentiality and trust are main concerns. Near Field Communication (NFC) provides means to close-range contactless identification and communications for mobile phones and other devices Also, use of NFC for short range communication allows the possible integration with existing Point-of-Sale equipment and the payment process from the customers and merchants perspective.

NFC-Capable Mobile Devices for Mobile Payment Services

2007 ◽  
pp. 706-710 ◽  
Author(s):  
S. Karnouskos
Keyword(s):  
Real Time ◽  
Mobile Devices ◽  
Mobile Phones ◽  
Low Cost ◽  
New Technology ◽  
Near Field ◽  
Mobile Payments ◽  
High Penetration ◽  
Interesting Candidate ◽  
Service Oriented

An old saying coming from the telecom world states that nothing can be really considered as a service unless you are able to charge for it. As we move towards a service-oriented society, the necessity to pay in real time for a variety of services via different channels anywhere, anytime, in any currency increases. According to Gartner (www.gartner.com), worldwide mobile phone sales totaled 816.6 million units in 2005, a 21% increase from 2004. Due to the high penetration rates of the mobile devices, they pose an interesting candidate for the real-time payment scenarios. Several efforts have already been done (Karnouskos, 2004), but as new technology comes aboard, new capabilities are also brought along. Near Field Communication (NFC) is such a technology, which due to the industry support and its low cost (in comparison with similar ones) may become dominant in short-range communication among a variety of devices, including mobile phones. NFC is well equipped in order to facilitate mobile payments with little interference from the user side.

Enablers and Inhibitors of Merchant Adoption of Mobile Payments

2020 ◽  
pp. 227-250
Author(s):  
Eunice Yeboah Afeti ◽  
Joshua Ofori Amanfo
Keyword(s):  
Business Models ◽  
Service Providers ◽  
Security And Privacy ◽  
Mobile Payment ◽  
Privacy Concerns ◽  
Mobile Payments ◽  
Brick And Mortar ◽  
New Business ◽  
New Business Models

Merchant adoption of mobile payments is facilitating new business models and changing the way merchants run their brick and mortar businesses. Despite the advantages of mobile payment adoption to the merchant, they still hesitate to adopt mobile payments. Thus, the study seeks to explore qualitatively through a case study the enablers and inhibitors to merchant adoption of mobile payments. The study identified that merchants are adopting mobile payments to facilitate new business models, to promote the disintermediation of traditional intermediaries, to offer different possibilities of growing their businesses, and to reduce transaction costs. Even though merchants believe that mobile payments adoption and use improve operational efficiency to their businesses, there are instances of fraud, particularly in the peer-to-peer transfer sector, data breaches, data security, and privacy concerns. Therefore, it is imperative for service providers of mobile payments to enhance technological issues regarding privacy protection that could enhance trust towards mobile payment adoption.

New Perspectives of Mobile Payment Platform for Developing Countries

2014 ◽  
pp. 308-324
Author(s):  
Rodrigue Carlos Nana Mbinkeu
Keyword(s):  
Developing Countries ◽  
Mobile Phones ◽  
Rural Areas ◽  
Mobile Payment ◽  
Great Success ◽  
Mobile Payments ◽  
The Social ◽  
Money Transfer ◽  
The Impact

Mobile phones have become substantially more popular and sophisticated as African consumers have become remarkably comfortable with their use. This chapter shows the impact of the growing adoption of mobile payments as a financial transaction medium for money transfer, retail payments, or micropayments in Africa. Adoption was slow due to the nature of the mobile technology supporting the concept. The author shows how these innovations will continue to improve the quality of life of Africans, especially those in rural areas. He presents M-Pesa as a mobile payment system, which has had great success in Kenya. The author identifies the fundamental principles of success; thus, this enables the author to create an ECOPAY platform, which is an innovative mobile payment platform for emerging markets. The platform provides different types of m-payment like as B2C, B2B, or P2P using the mobile phone or others devices. Each transaction is secure by using encrypted messages and encrypted connections between the devices and the ECOPAY servers. The solution is based on the social and technological environment in developing countries.

scholarly journals Mobile Payment in China: Practice and Its Effects

2020 ◽  
Vol 19 (3) ◽  
pp. 1-18
Author(s):  
Yiping Huang ◽  
Xue Wang ◽  
Xun Wang
Keyword(s):  
Risk Sharing ◽  
Business Models ◽  
Mobile Payment ◽  
Key Factors ◽  
Daily Lives ◽  
Mobile Payments ◽  
Entrepreneurial Opportunities ◽  
Technological Developments ◽  
Low Costs ◽  
Careful Assessment

This paper offers a comprehensive review and careful assessment of China's mobile payment business. With broad access, low costs, and reliable transactions, mobile payments are creating a revolution of financial inclusion, changing people's daily lives and commercial business models. This study also confirms that mobile payment improves risk sharing among individuals and increases entrepreneurial opportunities. These mobile payment successes can be traced to three key factors: supply shortages of alternative payment services, a friendly regulatory environment, and recent technological developments. A number of outstanding issues remain, however, including data ownership, data inequality, and regulatory shortcomings.

Enablers and Inhibitors of Merchant Adoption of Mobile Payments

2021 ◽  
pp. 535-558
Author(s):  
Eunice Yeboah Afeti ◽  
Joshua Ofori Amanfo
Keyword(s):  
Business Models ◽  
Service Providers ◽  
Security And Privacy ◽  
Mobile Payment ◽  
Privacy Concerns ◽  
Mobile Payments ◽  
Brick And Mortar ◽  
New Business ◽  
New Business Models

Merchant adoption of mobile payments is facilitating new business models and changing the way merchants run their brick and mortar businesses. Despite the advantages of mobile payment adoption to the merchant, they still hesitate to adopt mobile payments. Thus, the study seeks to explore qualitatively through a case study the enablers and inhibitors to merchant adoption of mobile payments. The study identified that merchants are adopting mobile payments to facilitate new business models, to promote the disintermediation of traditional intermediaries, to offer different possibilities of growing their businesses, and to reduce transaction costs. Even though merchants believe that mobile payments adoption and use improve operational efficiency to their businesses, there are instances of fraud, particularly in the peer-to-peer transfer sector, data breaches, data security, and privacy concerns. Therefore, it is imperative for service providers of mobile payments to enhance technological issues regarding privacy protection that could enhance trust towards mobile payment adoption.

Comparative Study Among New Payment Systems and New Future Trends in Mobile Payments

2018 ◽  
pp. 1448-1486
Author(s):  
Francisco J. Liébana-Cabanillas ◽  
Francisco Muñoz-Leiva ◽  
Juan Sánchez-Fernández
Keyword(s):  
Mobile Phones ◽  
Security Protocols ◽  
Growth Potential ◽  
The Internet ◽  
Future Trends ◽  
Payment Systems ◽  
Mobile Payments ◽  
Payment Methods ◽  
Future Society ◽  
Technological Developments

Over the last few years, the payment systems used in business activities have been altered by recent technological developments. Increasingly, more consumers use their mobile phones to do their purchases. Currently, sales through smartphones are an indicator of the growth potential that these new trade and payment methods have in the future society. In this chapter, the authors carry out a theoretical review of the different payment systems, from the most traditional ones to the new payment systems used on the Internet. They also analyze the different security protocols that are currently operational, with the aim of improving consumers' trust. In this literature review, the authors extract a few implications and recommendations to management of M-Payment-based businesses.

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