Mobile Payments

Introduction
 INTRODUCTION
What do you mean by M-payment?
- Mobile payment is a type of payment where
the customer uses a mobile device, such as a
smartphone, to pay for goods or services.
- This type of payment is becoming
increasingly popular, as it is seen as a
convenient and easy way to pay for things.
- There are several different ways to make a
mobile payment, such as using a mobile app,
scanning a QR code, or using NFC (Near Field
Communication).
Objectives
Objectives
Easy Payment
Time Saving
Satisfaction of both Buyer and
seller
Promotion of Technology
Maintaining the flow of
Money
Advantages and
Disadvantages
Advantages of Mobile Payment

01 Contactless Payment Offer Reward and

04 Loyalty Program

02 Fast and easy to use

05 Track payment

Secure and reduce

03 risk
Disadvantages of Mobile Payment

01 Internet Access
04 Lack of Knowledge

02 Damage to mobile
05 Limitation of Fund
Transfer
Less secure than
03 Traditional Mode
Types of Mobile
Payment
 Types of Mobile Payment
Credit Card Payment
Credit card payments are a type of electronic payment. Credit card
payments are processed through a credit card network, which is a system
that allows banks and other financial institutions to send and receive
money. Credit card payments are convenient because they can be made
anywhere there is an Internet connection.
 Types of Mobile Payment
NFC
NFC payment refers to the use of Near Field
Communication technology for making
contactless payments. NFC is a short-range
wireless communication technology that
enables two devices, such as a smartphone
and a POS terminal, to exchange data. NFC
payment allows consumers to make
payments by simply tapping their NFC-
enabled device on an NFC-enabled POS
terminal.
 Types of Mobile Payment
OR code
A QR code is a digital image that can be
scanned by a smartphone or other device
and translated into information. QR code
payment is a contactless payment method
which allow customers to make payments
by scanning a QR code with their
smartphone. This is convenient for
customers who do not have cash or a
credit card. It is also fast and easy for
merchants to setup.
Process of Mobile
Payment
 Process of Mobile Payment

Selection of Item
Firstly the customer has to select the type
of goods or service he/she wants to
purchase. The payable amount depends on
the type of item the customer has selected
and the price.
 Process of Mobile Payment

CALCULATION OF PAYABLE AMOUNT:

The seller calculates the total amount that
has to be paid by the customer and the
customer uses the mobile device to transfer
the required funds with certain payment
system.
Process of Mobile Payment

Payment Gateway
The Customer processes the bank
transfer in his/her mobile by
selecting the bank account of the
seller and allows the gateway for the
transfer of required money from the
customer’s bank account to the
seller’s bank account.
 Process of Mobile Payment

ONE TIME PASSWORD:

The Mobile Payment System can be
completed only if the payer enters the correct
One time Password (OTP) in the Payment
Gateway in his mobile phone, this OTP helps
to maintain safe payments without any fraud.
This OTP is sent only to the registered
customer who is performing the payment.
Process of Mobile Payment

Confirmation
The Payment will be successful after
entering the correct OTP and then the seller
has to be satisfied with the successful
completion of the mobile payment of the
customer and this completes the process of
Mobile Payment between the buyer and
seller.
Presented by –
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