Technology and market evaluation for mobile micropayment and development of a business plan
Therefore, simple and easier installing processes are needed to attract more merchants to implement the mobile micropayment system. Also, for merchants, one benefit of using the micropayment vendor which has a strong brand and large member base would be attracting more customers to the store. Like familiar credit card brands which offer a feeling of trust for customers , mobile payment merchants need the vendors which will generate traffic for merchants through their brands. Tikkie is a Dutch payment system in the Netherlands, Belgium and Germany, run by the ABN AMRO bank.
A user sets up an account with a micropayment processor and pays an average or large sum of money into the account. While the World Wide Web now works on an advertising-based model, Nelson’s idea laid the foundation of the now-ubiquitous hypertext transfer. Currently, micropayments are not yet a common way of paying for internet content. The Danish MobilePay and Norwegian Vipps are also popular in their countries. They use direct and instant bank transfers, but also for users not connected to a participating bank, credit card billing. Other NFC vendors mostly in Europe use contactless 휴대폰결제현금화 over mobile phones to pay for on- and off-street parking in specially demarcated areas.
After the transaction has been authorized, the mobile phone will be charged with the respective amount of the content bought. This is a logical alternative to credit card and Premium SMS billing. A simple mobile web payment system can also include a credit card payment flow allowing a consumer to enter their card details to make purchases. This process is familiar but any entry of details on a mobile phone is known to reduce the success rate of payments. A micropayment is an e-commerce transaction involving a very small sum of money in exchange for something made available online, such as an application download, a service or Web-based content. One of important features of e-commerce technologies such as electronic payment system is that multiple groups must jointly adopt the system in order for it to succeed (Plouffe et al. 2001).
The latest technology advancements have brought about more exposure and inclusion into the digital world. Fintech, technology in finance, is an emergent sector that is focused on making financial products available to all consumers at a negligible price. “”Common Markup for micropayment per-fee-links 1.1 Origin and Goals””. Similar apps with zero fee for small instant private transactions, Vipps and MobilePay have become popular in Norway and Denmark. Micropayment recognizes all providers from Germany, Austria and Switzerland fully automatically with 100% success, even with provider changes and number porting. “However, with the economic crisis, advertisers have cut back their budgets, reducing additional revenue for providers and forcing them to look for new ways to secure profits,” he said.
Micropayment actively protects merchants against fraud and fake bookings. Depending on the payment method and service, appropriate security modules are used or optionally offered. Modern mobile networks have an infrastructure both necessary and sufficient for payments. In the 21st century no country exists beyond the scope of the banking sector and so for their own economic progress they should be encouraged to move away from cash. The extra motivation here is that the resulting low cost solutions and mechanisms that work in these environments can then be efficiently applied in all types of developed economies.