Mobile Payments - Primary Model
Premium SMS based Transactional Payments
The consumer sends a payment request via an SMS text message or a USSD to a short code and a premium charge is applied to their phone bill or their online wallet. The merchant involved is informed of the payment success and can then release the paid for goods.
Direct Mobile Billing
It is a true alternative payment method that does not require the use of credit/debit cards or pre-registration at an online payment solution. The consumer uses the mobile billing option during checkout at an e-commerce site-such as an online gaming site-to make a payment.
Mobile Web Payments (WAP)
The consumer uses web pages displayed or additional applications downloaded and installed on the mobile phone to make a payment. It uses WAP (Wireless Application Protocol) as underlying technology.
Contactless NFC (Near Field Communication)
A consumer using a special mobile phone equipped with a smartcard waves his/her phone near a reader module. The payment could be deducted from pre-paid account or charged to mobile or bank account directly. (NFC) is used mostly in paying for purchases made in physical stores or transportation services.