The communication may
happen over Bluetooth, Infrared, WiFi, RFID, or other carrier. It may also happen
over USSD (Unstructured Supplementary Services Data)??”a protocol similar to SMS,
but with real-time connection and special features for financial needs.
Pros and Cons
This method can be used for a variety of needs??” both micro and macro
payments. It can also be used for unattended POS like parking booths.
This is a secure method of payment. The customer is physically close to the
point-of-sale system, which creates more confidence.
The method requires special software/hardware to be available. This limits
its reach and feasibility.
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Chapter 8
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Proximity payment can be a good subsidiary payment mechanism for
the mobile web, but may not be mainstream. E.g. a PIN/barcode can be
generated on the mobile web for a rock concert, and customer will pay for
the ticket while she or he parks the car.
Service Credits, Prepaid Cards, Embedded Smart Cards, and Interactive
Voice Response (IVR)-based systems are some other alternatives available for
mobile payment.
Apart from technical and user needs, you should also consider security aspects of
the payment mechanism you choose.
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