Essay --

E-wallet http://articles.economictimes.indiatimes.com/2013-06-14/news/39976342_1_e-wallet-facility-airtel-money-flipkart Can e-wallet be used for retail transactions? Telecom companies have already started using e-wallet. For special recharges, you can pay by using your current mobile balance. Mobile Payments Introduction A mobile payment can be defined as the purchase of a product or service by using mobile phone in the payment process. This does not include related mobile financial services such as mobile banking and C2C transfers. According to a report of Internet and Mobile Association of India (IAMAI)and market research firm IMRB international, mobile internet users are going to cross 155 million mark in India by the end of March 2014 which marks growth of about 20 percent quarter-on-quarter. The growing of e-commerce along with the availability and convenience of internet through high end smart phones has increased the viability of mobile payments in the recent years. The mobile payment industry Already 80% of the mobile phone users have access to the mobile internet and most of them are using them for performing commercial and financial transactions in a manner similar to PC-based internet connectivity. Customer’s acceptance of mobile payments procedures mainly depends on †¢ Cost – includes buying of a new mobile phone, direct transaction costs, fixed usage costs and the cost of the merchant (e.g., integrating payment solution into the existing IT infrastructure) †¢ Security – includes authenticity, integrity, confidentiality, non-repudiation of transactions besides subjective security in the perception of customer †¢ Convenience – includes comfort and ease of use Mobile payment market segmentation: Mobile payment market ... ... billing is capped at US$50 per subscriber per month thereby limiting its use and reducing average transaction value. 3. Payment acceptance This is primarily a merchant-focussed payment solution. Instead of using mobile handsets for payments, smartphone applications and other accessories are used to enable customers and merchants to accept payments. Here, smartphone or a tablet becomes the POS terminal. Most of these are magnetic stripe readers that are plugged to the audio jack of the smartphone/tablet. These are mainly targeted at Small and Medium (SMBs) scale business merchants. PayPal, VeriFone, Intuit and Square are the major players in this segment. Payment acceptance market is the most dynamically growing space in the short term. Consumers benefit from the ease and convenience of making card payments with the availability of this medium at multiple locations. Essay -- E-wallet http://articles.economictimes.indiatimes.com/2013-06-14/news/39976342_1_e-wallet-facility-airtel-money-flipkart Can e-wallet be used for retail transactions? Telecom companies have already started using e-wallet. For special recharges, you can pay by using your current mobile balance. Mobile Payments Introduction A mobile payment can be defined as the purchase of a product or service by using mobile phone in the payment process. This does not include related mobile financial services such as mobile banking and C2C transfers. According to a report of Internet and Mobile Association of India (IAMAI)and market research firm IMRB international, mobile internet users are going to cross 155 million mark in India by the end of March 2014 which marks growth of about 20 percent quarter-on-quarter. The growing of e-commerce along with the availability and convenience of internet through high end smart phones has increased the viability of mobile payments in the recent years. The mobile payment industry Already 80% of the mobile phone users have access to the mobile internet and most of them are using them for performing commercial and financial transactions in a manner similar to PC-based internet connectivity. Customer’s acceptance of mobile payments procedures mainly depends on †¢ Cost – includes buying of a new mobile phone, direct transaction costs, fixed usage costs and the cost of the merchant (e.g., integrating payment solution into the existing IT infrastructure) †¢ Security – includes authenticity, integrity, confidentiality, non-repudiation of transactions besides subjective security in the perception of customer †¢ Convenience – includes comfort and ease of use Mobile payment market segmentation: Mobile payment market ... ... billing is capped at US$50 per subscriber per month thereby limiting its use and reducing average transaction value. 3. Payment acceptance This is primarily a merchant-focussed payment solution. Instead of using mobile handsets for payments, smartphone applications and other accessories are used to enable customers and merchants to accept payments. Here, smartphone or a tablet becomes the POS terminal. Most of these are magnetic stripe readers that are plugged to the audio jack of the smartphone/tablet. These are mainly targeted at Small and Medium (SMBs) scale business merchants. PayPal, VeriFone, Intuit and Square are the major players in this segment. Payment acceptance market is the most dynamically growing space in the short term. Consumers benefit from the ease and convenience of making card payments with the availability of this medium at multiple locations.