mobile payment

mobile payment

Mobile payment is an alternative payment method that allows people to pay for purchases with their mobile phones instead cash, check, or credit cards. Also referred to as mobile money, mobile payment is said to make the traditional paper cash less useful and may eventually replace it entirely. There are many ways mobile phones can be used to pay for a purchase. These include SMS based transactions, direct mobile billing, contactless NFC or near field communication.

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Industry/Domain: Economy; Online services
Category: Ecommerce
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