{"id":9241,"date":"2013-08-08T12:20:43","date_gmt":"2013-08-08T12:20:43","guid":{"rendered":"http:\/\/www.global-briefing.org\/?p=9241"},"modified":"2013-08-16T10:20:02","modified_gmt":"2013-08-16T10:20:02","slug":"mobile-money-a-quick-guide","status":"publish","type":"post","link":"https:\/\/www.global-briefing.org\/2013\/08\/mobile-money-a-quick-guide\/","title":{"rendered":"Mobile money: a quick guide"},"content":{"rendered":"

Mobile wallet<\/strong><\/span><\/p>\n

A method of payment performed over a mobile device, such as a smartphone or tablet, is known as a mobile wallet. It could be checking your bank balance, buying goods or transferring money. Mobile banking is more convenient in countries that do not have banking systems readily available to a lot of the population. Mobile payments are set to reach US$600 billion globally by the end of this year, according to Juniper Research.<\/span><\/p>\n

Transactions can be made in a number of ways, including mobile web payments, direct operator billing, contactless near field communication and SMS transactional payments.<\/span> <\/span><\/p>\n

Mobile web payments<\/strong><\/span><\/p>\n

These are made when a consumer pays for something over a mobile web page or application. This can be via services such as Amazon payments, PayPal or Google Wallet, where a credit or debit card is connected to the account and a separate password, or PIN, is used to make payments. These easy ‘one-click’ methods are often more suitable for mobile devices, where inputting lengthy card or identification details may be difficult and insecure.<\/span> <\/span><\/p>\n

Direct operator billing<\/strong><\/span><\/p>\n

Carrier or director operator billing (DOB) involves agreements with a mobile provider. Billing is established through an existing account and purchases are added to the phone bill. This system requires no further registration, provides a more secure payment method and reduces costs for merchants and customers.<\/span> <\/span><\/p>\n

Contactless or near field communications<\/strong><\/span><\/p>\n

The mobile device itself becomes a payment instrument with contactless or near field communications. A chip in the phone is identified by a reader, which picks up payment and identification details. Not all mobile devices carry NFC technologies, but banks are working around this. The spread of NFC payment technology has been slow, however.<\/span> <\/span><\/p>\n

Short messaging service (SMS)<\/strong><\/span><\/p>\n

SMS transactional payments work by sending a text message to make a purchase. Charges are applied to the operator bill or an online wallet with a prepaid balance or credit card attached. Example: Starbucks customers can download an app with a store card attached, choose their beverage and generate a bar code read at the till to make payment.<\/span> <\/span><\/p>\n

Square and other new applications<\/strong><\/span><\/p>\n

New applications and surrounding services are evolving. Square – an application with a card-swiping device that fits into the audio jack of a cell phone or tablet – automatically generates accounts for each transaction. Receipts are emailed to consumers.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Mobile wallet A method of payment performed over a mobile device, such as a smartphone or tablet, is known as a mobile wallet. It could be checking your bank balance, buying goods or transferring money. Mobile banking is more convenient in countries that do not have banking systems readily available to a lot of the […]<\/p>\n","protected":false},"author":10673,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[155,35,9,159],"tags":[],"_links":{"self":[{"href":"https:\/\/www.global-briefing.org\/wp-json\/wp\/v2\/posts\/9241"}],"collection":[{"href":"https:\/\/www.global-briefing.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.global-briefing.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.global-briefing.org\/wp-json\/wp\/v2\/users\/10673"}],"replies":[{"embeddable":true,"href":"https:\/\/www.global-briefing.org\/wp-json\/wp\/v2\/comments?post=9241"}],"version-history":[{"count":4,"href":"https:\/\/www.global-briefing.org\/wp-json\/wp\/v2\/posts\/9241\/revisions"}],"predecessor-version":[{"id":9475,"href":"https:\/\/www.global-briefing.org\/wp-json\/wp\/v2\/posts\/9241\/revisions\/9475"}],"wp:attachment":[{"href":"https:\/\/www.global-briefing.org\/wp-json\/wp\/v2\/media?parent=9241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.global-briefing.org\/wp-json\/wp\/v2\/categories?post=9241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.global-briefing.org\/wp-json\/wp\/v2\/tags?post=9241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}