Comparative Review Of Existing Mobile Payment Systems (original) (raw)

International Journal of Applied Engineering Research

The term "mobile phone" has become a heart for humans to survive in technical opportunity. Today the mobile phone is not only a full communication platform with email, instant messaging, video calls, and a social media interface, it also offers functional applications like navigation, ecommerce. In short, the Smartphone has become the most successful "functionality aggregator". Mobile payment, also referred to as mobile money, mobile money transfer, and mobile wallet, generally it is refer to payment services operated from or via a mobile device [1] . In this paper, we will discuss about mobile payment technologies their characteristics which are required to be used by mobile payment systems, common-uncommon things among them and advancement in the system. We will also look a complete comparison between the commonly used technologies like: Bluetooth, Infrared data association (IrDA), Radio Frequency Identification (RFID) and Near Field Communications (NFC) according to the most common factors which affect the quality of mobile payment systems presented. In this paper evaluations of the advantages and issues involved with using these technologies are also presented.