M-PAYMENT SYSTEM (e–WALLET )

[ What is M-Payment ? ] M-payment is a real-time payment that is made with the use of a mobile device. Formally known as a mobile payment. M-Payment involves submitting an electronic remittance for an outstanding bill. Cell phones are all utilized not only for call but also the means of making an M-Payment. It works without any GPRS or INTERNET connection it works by minimum requirement i.e. by means of TEXT SHORT MESSAGE SERVICES.(SMS) 2

[ Analysis ] Mobile payment is a new and rapidly-adopting alternative payment method – especially in Asia and Europe. By visualizing the statistical data we can say that in future there will be more craze & benefits. Number of Credit card user are : India has a total 75 million cards(total) 25 million credit 50 million debit Cont…

346 million Number of Cell Phones user are : ? ? ? people have mobile phones compared to only 75 million for credit cards and forecasts estimate that by 2011 there will be 400 million mobile phones. Payment by mobile phone and SMS is perfect for micropayments.

How M-Payment can be more effective than current e-Payment system ? Currently System working on Internet payment which is known to be e-Payment System. As people are not too much familiar with the system and little bit cumbersome to use and which is totally using debit and credit card. Now cell phones are used as basic need of individual and rather very chip and easy to use as compared to Internet based services so it is more efficient and even a common man can use the latest technology. 5

How can we implement M-Payment ? These System is very easy to Implement because there is no need to implement from the core. Just we have to need some of the collaboration of following Entities which makes it possible to implement this system. USER M-PAYMENT APPLICATION SERVICE PROVIDER LOCAL MERCHANT BANK SECTOR 6

How M-Payment System will work? Let we consider that all entities are get together to make this System. Consumer Content Provider (CP) Trusted Third Party (e.g. telco, bank, credit card company, ISP) Payment Service Provider (e.g. telco, bank, credit card company, startup) 5. Delivery of content 1. Purchase indication 7. Payment 6.Billing 0.Registration 2.Purchase request 4. Purchase authorization 3.Authentication/ Authorization 8.Revenue sharing 9.Revenue sharing 7

Mobile Payment User Merchant Mobile Payment System Purchase Request Give Merchant your Mobile Number Mobile Payment User Merchant System Credit Amount to Merchant Merchant Send Mobile Number and Amount System Call Mobile Phone, Speaks Amount & Request PIN User Enter and Send PIN using Mobile Phone System Debit Amount from User Account 8

Major Benefits & Advantages of M-Payment There is no need to implement special machine to read such ATM Card or CREDIT Card which reduces the cost of making such cards and machine both. Every merchant can afford mobile rather than very high cost CARD System so by which there are number of user to use these technology as compared to Credit Card & Debit card. You can use as mobile as ATM Card also to receive currency from ATM machine. 9

You can use the mobile for IDENTIFICATION of individual. At the time of registration in Bank and Mobile Service provider both have their proof so we can get total detail information of customer. One of the major advantage of M-payment is it reduces the DUPLICATE CURRENCY flow in the market and misused and also reduces currency maintenance cost due to all flow of currency is transferring one account balance to another. No chance of HACKING your Bank Account or transferring your Money by fraud or cheat as we have seen many cases on the internet. All payments are on LEGAL TRANSCACTION no doubt of illegal sales by the merchants. 10

Disadvantages of M-Payment System Perfect Database implementation cost. Quick time transaction capability. Quick response and accuracy from service provider. Powerful and Capable server. Mobile Network Problems. To change the service provider you have to do number of changes to other connected account to change. 11

Thank you M – Payment Demonstration