Thread: Mobile phones for payment

Mobile phones are everywhere and everyone owns one, You can find more number of mobile phones than bank accounts. Mobiles are no longer gadgets for making calls only, they have wider variety of uses. Mobile phones are now being used as a payment device instead of credit cards. Mobile technology has tremendous opportunities for use in ecommerce.
Mwallet is already a popular term In india and payment through mobiles are on a rise. Mcheck, ngpay and paymate are two sites which help in using the pay by phone method.

Payments for mobile phones are simple where in the amount of purchases are added to the customers phone bill. This service can be easily implemented on both post paid and prepaid handsets.
Majority Content downloads like ringtones, games, music, videos, ebooks etc already use mobile payments in india. Japan is one country which is sterering the use of mobile phones as a payment option. Mobile users from japan can shop in virtual malls and use mobile as a mode of payment.
Using mobile phones as a payment option has a bright future as it is easy, does not require any extra software or application installs, very secure and economical. But the biggest factor for success of such payment option is user acceptance . with growing credit card frauds mobile payments is certainly more convenient and risk free.

payment by mobile is not popular in India, because there is no trust with companies that work on such basis..

but for pety thibngs like ringtone we seem to use mobile balance to pay