Mobile Payments

 Mobile payment is a new and rapidly-adopting alternative payment method – especially in Asia and Europe. Instead of paying with cash, cheque or credit cards, a consumer can use a mobile phone to pay for a wide range of services and digital or hard goods such as:

• Music, videos, ringtones, online game subscription or items, wallapers and other digital goods.
• Transportation fare (bus, subway or train), parking meters and other services
• Books, magazines, tickets and other hard goods.

There are four primary models for mobile payments supporting mobile commerce: 

• Premium SMS based transactional payments
• Direct Mobile Billing
• Mobile web payments (WAP)
• Contactless NFC (Near Field Communication)