Framework for Mobile Payment Systems in India

2009 ◽  
pp. 237-254 ◽  
Author(s):  
Mahil Carr
Keyword(s):  
Mobile Device ◽  
Mobile Network ◽  
Mobile Payment ◽  
Symmetric Encryption ◽  
Payment Systems ◽  
Technical Standards ◽  
Mobile Payments ◽  
Clearing And Settlement ◽  
The Government ◽  
Mobile Network Operators

This chapter introduces concepts, frameworks and possible models for introducing mobile payments in India. The introductory section defines mobile payments, outlines its characteristics and identifies the stakeholders. Ideally, mobile payments have to be simple and usable, universal, interoperable, secure, private, affordable and be available within the country wide as well as globally. There are various stakeholders in this context: the customer, the merchant, banks, mobile network operators, software and technology service providers, mobile device manufacturers and the government. The technology considerations are addressed in a technological landscape with a wide variety of possibilities for implementing mobile payments. Implementations can be based on different access channels to the mobile device such as SMS, USSD or WAP/GPRS. The relative advantages and disadvantages each of these channels for mobile payments are discussed. Generic architectures that employ these technologies are modeled. The mobile phone carrying debit or card information (Track 2) within the device can act as a payment instrument. It can be used to extend the present day card based payment systems. This requires an independent entity called as a Trusted Service Manager (TSM) who provides the necessary hardware and software for handling transactions. The TSM is an intermediary between the financial institutions (banks) and the mobile network operators (telecommunications industry). Essentially the TSM accepts the information from the customer owning a mobile and it routes the financial transaction to the bank or an inter-bank clearing and settlement system (using an electronic interface—a financial switch) or to a payment systems operator (in the case that the customer is using a credit card). Possible models for one TSM in the country or having several independent TSMs are outlined. The TSMs may commu nicate with the financial system using the ISO 8583 messaging standards. Finally, technical standards and security issues are addressed. A symmetric encryption scheme (based on Triple DES or AES) can offer confidentiality of mobile payment transactions. However, for assuring integrity, authentication and non-repudiation a PKI scheme is required. Cost wise a PKI enabled scheme would be more than twice as costly as a symmetric scheme due to overheads in digital certificate transmission. Low value transactions may use the symmetric encryption standards whereas high value transactions can be done using asymmetric encryption standards.

Mobile Payment Issues and Policy Implications

2011 ◽  
pp. 88-101
Author(s):  
Y. Kwon
Keyword(s):  
Financial Institutions ◽  
Mobile Network ◽  
Policy Implications ◽  
Mobile Payment ◽  
Mobile Payments ◽  
Korean Economy ◽  
Banking Service ◽  
Payment Instruments ◽  
The Government ◽  
Mobile Network Operators

This chapter introduces three mobile payment plans that have been launched in Korea: mobile banking service, mobile prepaid electronic cash service and mobile phone bill service. Based on the recent experiences of the Korean economy, this chapter discusses the regulatory and monetary policy issues associated with mobile payments. Mobile payments are superior to existing means of payments because of their efficiency and convenience and mobile network operators (MNOs) are on the verge of turning into non-bank financial institutions in their nature. The government needs to facilitate the crossbreed between banks and MNOs to accelerate the development of efficient payment instruments rather than hindering innovation in banking industry.

Mobile Payment Issues and Policy Implications

2009 ◽  
pp. 1699-1712
Author(s):  
Youngsun Kwon ◽  
Changi Nam
Keyword(s):  
Financial Institutions ◽  
Mobile Network ◽  
Policy Implications ◽  
Mobile Payment ◽  
Mobile Payments ◽  
Korean Economy ◽  
Banking Service ◽  
Payment Instruments ◽  
The Government ◽  
Mobile Network Operators

This chapter introduces three mobile payment plans that have been launched in Korea: mobile banking service, mobile prepaid electronic cash service and mobile phone bill service. Based on the recent experiences of the Korean economy, this chapter discusses the regulatory and monetary policy issues associated with mobile payments. Mobile payments are superior to existing means of payments because of their efficiency and convenience and mobile network operators (MNOs) are on the verge of turning into non-bank financial institutions in their nature. The government needs to facilitate the crossbreed between banks and MNOs to accelerate the development of efficient payment instruments rather than hindering innovation in banking industry.

The statistical analysis of „Safety” feature for payment cards with contactless payment function, cash and mobile payments in Poland. Results of own research

2020 ◽  
Vol 3 (2) ◽  
pp. 51-55
Author(s):  
Artur Borcuch
Keyword(s):  
Statistical Analysis ◽  
Initial Phase ◽  
Mobile Network ◽  
Mobile Payment ◽  
Safety Feature ◽  
Developed Economies ◽  
Mobile Payments ◽  
Payment Cards ◽  
Consumer Attention ◽  
Mobile Network Operators

During the last two decades, numerous innovative mobile payment services have been introduced to both developing and developed economies. Many mobile payment applications have been launched by mobile network operators. Although the Polish market of mobile payments is in the initial phase of development, it is one of the pioneering and leading in Europe and globally. The mobile payment industry in Poland is expected to reach US$ 26,893.9 million by 2025 (Poland Mobile Wallet 2019). The main purpose of this article is an attempt to answer the following question: how does “safety” feature influence consumer attention to use: payment cards without contactless payment function, cash and mobile payments?

The use of statistical methods in the analysis of mobile payment market in Poland

2020 ◽  
Vol 3 (2) ◽  
pp. 45-50
Author(s):  
Artur Borcuch
Keyword(s):  
Economic Growth ◽  
Economic Activity ◽  
Initial Phase ◽  
Positive Impact ◽  
Ease Of Use ◽  
Mobile Payment ◽  
Human History ◽  
Payment Systems ◽  
Mobile Payments ◽  
Payment Instruments

Payments are an inherent element of economic activity (León and Ortega 2018). However, the evolution of payment instruments and the way individuals and businesses make daily payments has undergone enormous change in human history, particularly due to main innovations in payment systems in last decades (Gandhi 2016). The last innovation in payment system concerns mobile payment. The development of mobile payments market can have a positive impact on economic growth (Leon and Rodriguez 2012). Although the Polish market of mobile payments is in the initial phase of development, it is one of the pioneering and leading in Europe and globally. The main purpose of this article is to analyze, which feature (convenience, speed, availability, ease of use, safety) of mobile payments could be the most important for users from Poland.

scholarly journals Predicting mobile network operators users m-payment intention

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Choi-Meng Leong ◽  
Kim-Lim Tan ◽  
Chin-Hong Puah ◽  
Shyh-Ming Chong
Keyword(s):  
Technology Acceptance ◽  
Structural Equation ◽  
Mobile Network ◽  
Ease Of Use ◽  
Perceived Usefulness ◽  
Mediation Effect ◽  
Mobile Payment ◽  
Content Type ◽  
Payment Services ◽  
Mobile Network Operators

Purpose This study aims to investigate the intention of using mobile payment (m-payment) services in Sarawak, Malaysia. Design/methodology/approach A total of 194 online payment users were selected to respond to the structured questionnaire. The partial least squares-structural equation modelling (PLS-SEM) was used to analyse the data by assessing the measurement and model. Findings Perceived usefulness (PU) and perceived ease of use mediated the relationship between perceived compatibility (PC) and the intention to use the mobile payment for mobile network operators’ services. Research limitations/implications The analysis provides insights that PC is considered as a significant determinant for mobile payment of mobile network operators’ services. Practical implications The operators can consider factors such as PC in the design of their mobile applications and the potential to expand the m-payment services to others e-wallet such as Sarawak e-wallet. The model possesses medium prediction power, which suggests that other variables such as perceived security and personal innovativeness also can be used to predict the usage behaviour of mobile payment for the mobile network services. Originality/value The present study contributes to the m-payment users’ behaviour intention literature by investigating the mobile-based predictors of using m-payment technology in an emerging digital economy state in Sarawak, Malaysia. This study also extends the knowledge of technology acceptance model by introducing the mediation effect of PU and ease of use between the mobile-based predictors and m-payment intention.

scholarly journals Addressing the Trust Factor in Mobile Payments through Enhanced Security Controls

2019 ◽  
Vol 8 (3) ◽  
pp. 6769-6773
Keyword(s):  
Mobile Technology ◽  
Mobile Networks ◽  
Payment System ◽  
Mobile Payment ◽  
Payment Systems ◽  
Security Issues ◽  
Mobile Payments ◽  
Security Controls ◽  
Fast Development ◽  
High Uncertainty

Trust plays a key role in the acceptance of a new payment system and is at the heart of any method of payment. Companies have been using mobile payments for over a decade. Because of the high uncertainty and security issues accompanying mobile payment, developing trust of users is critical to enable their adoption and use. Customers will use mobile payments as long as they have trust in this relatively new mode of payment together with dependence on its services and applications. In this context, recent studies indicate that trust in mobile payment systems (MPS) is not uniform among users despite the fast development of mobile technology and the new modes of payment. The aim of this paper is to provide a number of suggestions to assist developing greater trust in the mobile networks and provide customers with a secure and befitting experience that will influence mobile payment adoption in turn

scholarly journals The dawn of a mobile payment scheme: The case of Movii

2021 ◽  
Author(s):  
Carlos León
Keyword(s):  
Mobile Device ◽  
Mobile Payment ◽  
Payment Scheme ◽  
Mobile Payments ◽  
Payment Instruments ◽  
Business To Business ◽  
Over Time ◽  
Unique Dataset

Mobile wallets replicate physical wallets on a mobile device, in which users can store different payment instruments (e.g., cards, transfers) to make mobile payments. As the mobile wallet is adopted, a mobile payment scheme emerges, with its users as elements in a network of transfers. In this article, I study the mobile payment scheme of Movii— the first fintech firm in Colombia operating under a financial non-banking license for electronic deposits and payments. Based on a unique dataset of bilateral transfers between Movii’s mobile wallet users, I build, visualize and analyze Movii’s network, daily from November 18, 2017, to November 25, 2020. Besides the anticipated increase in the number of users and the value of transfers, the visual and quantitative complexity of the network of transfers increases over time. This increase in complexity is likely to be linked to the adoption of Movii’s mobile wallet, which results in users finding new ways to use mobile payments beyond person-to-person transfers, including person-to-business and business-to-business. Also, results suggest the Covid-19 pandemic accelerated the evolution of Movii’s mobile payments scheme.

Analysis of a Mobile Payment Scenario

2021 ◽  
pp. 452-477
Author(s):  
Iviane Ramos de Luna ◽  
Francisco Montoro-Ríos ◽  
Myriam Martínez-Fiestas ◽  
Luis-Alberto Casado-Aranda
Keyword(s):  
Scientific Literature ◽  
Payment System ◽  
Mobile Payment ◽  
Payment Systems ◽  
Consumer Adoption ◽  
Mobile Payments ◽  
History Of

The objective of this chapter is to evaluate the scenario in which mobile payments are currently inserted to offer those interested in developing research in this area a broader understanding of the mobile payment ecosystem and its evolution. A study by Dahlberg, Guo, and Ondrus revealed that researchers are focusing on the same topics (especially consumer adoption and technological aspects) with a limited accumulation of foreground. Therefore, it is believed that the limited scientific literature regarding the history of mobile payment and its development in recent years surely makes it difficult to generate research on other perspectives. In this way, this chapter presents the general scenario of financial technologies, explaining how these changes completely changed the global economic scenario and gave rise to innovations in financial solutions for companies and consumers. The authors conclude the article by giving some recommendations for the diffusion of this payment system and for future investigations of mobile payment systems.

A Secure Mobile Payments Protocol Based on ECC

2014 ◽  
Vol 519-520 ◽  
pp. 151-154 ◽  
Author(s):  
Xiao Mei Chen ◽  
Shi Hong Zou
Keyword(s):  
Mobile Terminal ◽  
Mobile Payment ◽  
Key Generation ◽  
Symmetric Encryption ◽  
Security Risks ◽  
Mobile Payments ◽  
Network Bandwidth ◽  
Payment Protocol ◽  
Set Protocol ◽  
Key Length

Owing to the limitations of mobile terminals and network bandwidth, the current Secure Electronic Transaction (SET) protocol can not be introduced into mobile payment directly. Present mobile payment system often uses symmetric encryption algorithm that may bring in some security risks. A new secure mobile payment protocol based on ECC was presented ,which ensures information flows from merchant to customer and enhances the security of customer’s information. Theoretical analysis shows that, ECC can not only meet the requirements of short key generation time, but also ensure that at the same time of cracking code the ratio of RSA and ECC key length is greater than 5:1. The number of signing the certificate verification, asymmetric and symmetric encryption of the new protocol is also lesser than SET protocol, so the current mobile terminal and network capabilities can support this protocol to ensure safe and effective mobile payment process.

scholarly journals A STUDY ON FUTURE OF MOBILE BASED PAYMENT FOR GOVERNMENT SERVICES IN INDIA

2020 ◽  
Vol 8 (2) ◽  
pp. 118-123
Author(s):  
Ashish Jaiswal
Keyword(s):  
Cost Efficiency ◽  
Mobile Payment ◽  
Government Agencies ◽  
Government Services ◽  
Goods And Services ◽  
Mobile Payments ◽  
Payment Services ◽  
The Government ◽  
Digital Payments

Digital India programme of Government of India has promoting and encouraging the usage of digital payments for the various goods and services being availed by the citizens. The Government wants to develop a Digitally Empowered economy through the cashless transactions. As far as government agencies are concerned, mobile based payment is a noteworthy development on various domains, because it is going to increase ease and productivity for both the agencies and citizens themselves. Citizens who are using the Government services are concerned of the privacy of the data and information. Government needs to evaluate the procedure from beginning to end to ensure it meets strict standards and keeps information private. Poor literacy levels are a problem with this technology. The mobile payment services have to be effective in terms of usability, cost, efficiency, interoperability and security for transactions of all categories of citizens. Mobile payments options needs to be available even on low end mobile handsets.

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