Role of Mobile Billing Systems and digital wallets in M-Commerce

This entry is part 2 of 7 in the series Mobile Security

After discussing various effective mobile commerce channels, another important aspect is mobile payment systems. Due to fear of fraud, mobile phone users started to shun use of credit and debit card and turned towards mobile or carrier billing system. Mobile billing system provides purchase expediency. Below are some finest mobile payment systems that will give you an idea about how it works.

Zong:

Zong is one of the major mobile payment systems for managing digital transactions and other virtual goods. Being a global payment system Zong has served millions of clients across 40 countries.

While accessing Zong payment section, click on red button found in your mobile and insert mobile number in payment screen, system will send you a pin code on your mobile, and just enter that pin code for verification of your account and your transactions will be successful. For next transaction, you just need your mobile number. Zong has tie up with online security providers like VeriSign, McAfee, and TRUSTe for making secure online transactions.

Google Wallet:

Google Wallet works on NFC (Near Field Communication) technology that is currently available in USA and supported selected mobile devices. Google Wallet does not support devices bought internationally.

For successful payment transaction, just tap your mobile on the machine or wave your Smartphone device. The reader machine will catch credit card information tied up with Google account.

Apple’s Passbook:

Apple’s Passbook is available on IOS6 that can store boarding passes, loyalty cards, store reward cards, coupon codes, and mobile tickets and to make payment merchant or retailer just has to scan the QR code placed in coupon code.

It saves printing expense of organizations, and they just used to share a link to users that will appear on their iPhone screen. Regularly it sends new discount and sales offers to users. It is a location-based service shows users the exact location of store for their benefit.

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Text2Pay:

Text2Pay is an easy and safe way to carry online payment through mobile. No need of credit or debit card, just carry your mobile and click on Text2Pay button in your mobile and enter your mobile number, system will send you a text message and you have to reply “TNP” by complying prices shown in the message.

Text2Pay charges your payment in next mobile bills and if you are prepaid customer than charges will be deducted from your balance.

Card.io:

A simple method to make your payment fast is Card.io, which will capture photo of your credit card and scan the details of credit card and it will show credit card information on your Smartphone screen.

Now you enter the payment amount and submit for transaction processing. To avoid fraud and credit card forgery, Card.io is the best option for digital payment.

Fortumo:

It can be integrated easily with any mobile app and provides one click checkout feature, it means it will not interrupt your regular browsing experience or other activity; you can make instant purchase without require to sign up for an account.

When buyer purchases any stuff, a little percentage of each transaction will go to Fortumo. User has to confirm the purchase order through mobile payment and the amount will be added in their mobile bill.

Onebip:

Onebip is a registration mode mobile payment platform while it eliminates need of PIN number for authentication of transaction. First user has to do registration and at time of payment, user has to login into account, and enter your mobile number.

User can save his mobile number for future transaction. User will have transaction history for reference.

Dwolla:

It is widely know service and affiliates with your bank account via website registration. The app also shows in built map to find out merchants outlets around you that acknowledge payment via Dwolla.

User can track transactions. With this app user can transfer it fund to friends on social sites like Facebook, Twitter, and LinkedIn.

Conclusion:

Finally, we can say that mobile billing system is a great concept that removes cyber threats and user can enjoy online shopping without any hesitation. In our third series, we would like to focus on some mobile security measures from client and customer side to prevent online frauds and threats.

Series Navigation<< Security Loopholes in Mobile Payment ChannelsImportant Mobile Commerce Security Measures >>
 

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