M-Commerce, Part 2

The Different Types Of Payments On Mobile

There are different types of mobile payments that are available. These are:

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a) SMS payments: This mode of payment entails using a simple SMS to make purchases and payments. SMS payment methods popular and will continue to be a preferred methods of person-to-person payment. This can be attributed to the fact that SMS payments are simple to transact and all that is required is a mobile phone

b) WAP payments: This stands for Wireless Application Protocol. WAP payments include using the phone, to connect to online sites that offer mobile payments options such as Paypal, Google or Yahoo Wallet. There are some networks that allow for a user to make WAP payments using their phones with just a simple SMS. However, for you to qualify for this, you need to consult SMS payment companies.

They will install the gateway that will allow WAP payments.

c) NFC payments: As we’ve seen earlier in this guide, this stands for Near Field Communication. Here the user has to have an inbuilt NFC Smartphone. Through radio frequency, NFC technology allows the user to communicate to other users who have the same phone or with retail sales of points that have the same ability. It is possible to send information or even money to the other person with a similar Smartphone. This form of communication is widely used in Japan and China where information is passed between people with close proximity. This method offers an instant method of sending information or money.

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