CONCEPTOS BASICOS DE MOBILE PAYMENT

Mobile Payments Are A Convenient Payment Option

Mobile payments are on the rise. From direct mobile billing to near-field communication, making payments through a cell phone are becoming more popular all over the world. That said, it’s important for consumers to know what mobile payments are, and be aware of the different types of mobile payments.

Mobile Payments Set To Increase Threefold

Juniper Research determined in a recent study that mobile payments for products, services, digital goods and other transactions will reach nearly $650 billion by the year 2015. Currently, the annual transaction amount for mobile payments is approximately $240 billion. Juniper Research’s Mobile Payments Strategies report predicts two to three times growth across each type of purchase made and finds no significant difference in growth if the purchase is for a digital good or a physical one. There are a number of reasons for the rise in mobile payment popularity, but the greatest contributor to consumer confidence in mobile payments has been the banking industry, specifically the online banking industry. Mobile payments fall into one of four main categories: direct mobile billing, text or SMS-based transactions, mobile web payments (using WAP), and near-field communication (NFC).

Mobile Payment Type – Direct Mobile Billing

This is an option of mobile payment that is popular in Asia, as it bypasses banks. Phone owners use a pin and password to purchase online goods and services. The bill is then placed on their mobile phone bill. UK-based online newsletter Mobile Payments World has called this is a secure mobile payment option, as it has proven to work for both customers and vendors. According to the site, over seventy percent of users in Asia use direct mobile billing.

Mobile Payment Type – Text Or SMS-Based Transactions

People who have sent a text in support of a cause, such as the Red Cross, are familiar with making a mobile payment via text. This is a popular way to make mobile payments, but it is also one of the more insecure methods for recipients. After the text is sent, the bill is attached to the user’s phone bill. This type of payment is secure for the owner of the phone, but because texts can be dropped, it is not always a fail-safe method to ensure payment for a company or organization. This type of mobile payment can be used for any kind of transaction, but its instability keeps it from being used by most businesses.

Mobile Payment Type – Mobile Web Payments (Using WAP)

In the United States, mobile web payments are gaining traction as the most popular type of mobile payment. Phone owners use their wireless phones to log into an application and make a payment. They do not bypass their bank or credit card but use one or the other – or sometimes both in the instance of PayPal – to make a payment. For American users, it is a natural jump to use computers and phones the same way when making payments.

Mobile Payment Type – Near-Field Communication (NFC)

NFC as a form of mobile payment faces challenges in the United States currently because it involves using the phone as a “card” that can be read. NFC requires that phone owners place their phones near a reading device in order to make a purchase. Popular applications for NFC include mass transit. It is also used to pay for parking. It has varied mobile payment applications; however, the US infrastructure cannot currently support nationwide development.

In this article, you learned that mobile payments are increasing in popularity. Readers also learned that there are four main types of mobile payment. Each one has its benefits and challenges. Finally, you learned that the number of mobile payments are predicted to rise dramatically in the next few years.