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Mobile Payments – Tried and Tested Examples : MoMa Trends: Mobile Payments

Blog: MoMa Trends: Mobile Payments

In my previous post I covered all types of mobile payments and highlighted their main advantages and disadvantages. In this new post I will provide real examples of companies using mobile payments so you are able to get a feel for these payment methods. Ready?

Premium SMS based transactional payments

Premium SMS, during many years associated with simple content services, such as ringtones, backgrounds and games, can be classified as being in the mature stage on the product life-time cycle, as they sharply slowed down in recent years in Western and other high-income countries due to increasing internet and smartphone penetration. The internet and free apps have generally replaced simple SMS based services, although in certain emerging and developing countries the demand for standard SMS- premium content is still high.

Currently, PSMS is broadly used by Unicef and many other charities as a fundraising channel, a double opt-in message that results in one single donation. From the donator point of view, this method is easy, quick, safe and anonymous, and I particularly think it’s a great example of mobile technology used in a positive way.

Direct Mobile Billing

Boku is an example of a Direct Mobile Billing company who enables unbanked consumers who may have a mobile phone, but no credit card or traditional bank account, to make purchases online. The majority of transactions processed through Boku are for digital and virtual goods and services, including social and free-to-play games, virtual goods or social networks. Currently Boku is also accepted by the main UK mobile casinos.

Mobile web payments (WAP)

Direct operator billing

Direct carrier billing, also known as direct operator billing in some parts of the world, can be viewed in the mobile payments market as the kid who gets picked last in a football game at the playground. He or she might not seem like a skillful player on the surface, but can break out some smart moves once the game gets started. Direct carrier billing does not capture the imagination like NFC-enabled mobile payments, but financially underserved consumers in both emerging and developed markets continue to rely on it to buy digital content.

Bango is a mobile payment company chosen by the leading mobile app stores to power direct carrier billing for their customers. Bango enables app store customers to click and buy apps or in-app content, placing the charge directly onto their mobile phone bill. Bango app store partners include, among others, Google for Google Play, Amazon for Amazon Appstore and Samsung for Galaxy Apps

Online Wallets

We can classify the types of digital wallets into two broad categories: client-side and server-side. Within both categories are wallets that function only with specific vendors (either online or offline) and others that will work with just about any merchant.

Paypal Wallet or Google Wallet  would be the most popular examples, that allow users to send money to almost anyone with an email address, without sharing their financial information with the recipients.

Credit Card

Examples of credit card payment flows that allow consumer to enter their card details to make purchases can be nowadays found in any e-commerce website.

QR code payments

QR code-based payment has been successfully employed by Starbucks, whose app has approximately 12 million users and processes around 6 million transactions every week. At the point of service, the merchant enters the amount to be paid. The customer opens the app and displays the QR Code. The merchant’s scanner picks up the QR Code, authenticates the customer, and deducts the amount from the customer’s wallet.

Contactless Near Field Communication

NFC requires at least one transmitting device, and another to receive the signal. A range of devices can use the NFC standard and can be considered either passive or active, depending on how the device works.

Three payment systems are battling it out NFC protocols: Apple Pay, Android Pay, Samsung Pay (which also uses magnetic secure transmission -MST- to transmit payment information). My next post will cover the main aspects about these contactless payments.

Cloud Based Mobile Payment

PayPal is one of the world’s largest Internet payment companies and uses cloud-based approach to in-store mobile payment. As of 2016, PayPal operates in 203 markets, 26 currencies and has 179 million active, registered accounts. There’s no charge to the buyer to pay for an online purchase — or to send money to anyone.

Audio Signal Mobile Payments (NSDT)

Audio signals from mobile phones are now being used to make mobile payments. NSDT (near sound data transfer), Data over voice and NFC 2.0 produce audio signatures that the cell phone can pick up to enable electronic transactions. Companies like Verifone or Alipay are currently using this technology.

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Ainara Gonzalez Abaitua
Master in Digital Marketing
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