Merchants and consumers do not have any common forum that provides an opportunity to transact/trade in small to medium payments. There is a need for a payment mechanism that will allow the mobile user community to make payments on the move even for small values. At the same time, the merchants must not be burdened with the high cost of transactions that erodes their profit margin.

'Mobile Payments' is the ideal solution to address these issues and promote mobile commerce using the latest wireless technology. The solution enhances delivery capabilities (Internet, SMS, GPRS and PDA), thus improving the relationship between customers and merchants. Consumers can securely and conveniently pay through their mobile phones or over the Internet. No hassles of carrying credit cards and no need to furnish the card number on every occasion.

Mobile Payments consists of:

• Secured Wallets (prepaid accounts)
• Top-up Wallets with credit card/online debits
• Use of Wallet through mobile/Internet/PDAs
• Processing of transactions and settlements
• Personalisation (defining limits and auto top-up)
• Transaction history
• Profile management
• System administration
• Merchants/Services management

How Does Mobile Payments Work?

• Customers register for the services and open a Secured Wallet (prepaid account) with the Service Provider. The Wallet is topped up through credit cards or direct debits to bank accounts (wherever interfaced).
• The customer is allowed to define transaction limits, maintain profiles, track account details and transaction details. Merchants are registered and allowed to integrate their services with the payment system.
• While customers initiate transactions over the Internet or mobile phones and pay through the Wallet, the merchants receive online confirmations.

Mobile Payments makes online payments simple, safe and secure.