ii) USSD solutions - equally successful are solutions that utilize unstructured supplementary solution data (USSD) and simple menus to offer mobile payment solutions. Bank mobile payment providers in Southern Africa have experienced the success that is greatest with USSD
services. Nevertheless since the initial leg regarding the deal is not encrypted or safe, these types of services were confined to "closed loop transactions" - where money is passed between accounts or users at a solitary bank, although not between banks. This can be a huge constraint to achieving extensive utilization of mobile payments as interactions are going to be confined to either the financial institution's own customers and out of system payments have to be to cash. The solution can reach large target segments, and as the USSD service does not require integration with the SIM card, these services can be launched with minimal involvement of a MNO as all phones can use USSD. Even though the MNO has to consent to make the solution available and this has become a problem in certain markets. In USSD solutions anybody can "play" and banking institutions have tended to be the winners.
iii) GPRS/Java solutions - involving packages. As noted above downloading solutions to an "enhanced" phone is quite a bit easier, and an number that is increasing of have actually higher quality phones, or soon need them. Chances are that a lot of people who are banked will have phones that can handle downloads that are such. E-commerce model is probably the absolute most contestable since the online application are from a bank, mobile community operator or every other third party. The drawback remains that the answer isn't any more secure than accessing the internet, and also to make up the provider for the risk that is associated charges tend to higher.
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E-currency is fast becoming the order of this time on the internet. It involves the investing of electronic currencies. You will find diverse types of e-currency platforms operating online. The most popular one of them include Perfect Money, Ego Pay, Bitcoin, Webmoney, Payza, Liberty Reserve, e-Gold, and so on. These types of platforms enable free registration of reports. They also give clients a few alternatives for funding, withdrawing and e-currency that is exchanging. You are able to alter one kind of currency to some other form. For example, you can alter USD to EURO through some of the e-currency that is reliable.
Apart from the above, there are many other online payment solutions available in the internet. Many are still coming up while some are already causing waves online. Majority of the online payment companies are raking a huge number of money on daily basis. This is the instance with those of them which are well known for making quality services.
To make the most out of online payment solutions, you have to be careful when working with any of the means that are available. If you are making use of debit or credit cards for example, you have to be certain of the site you're working with. This prevents you from getting duped. If you should be additionally making use of other payment that is online, you need to make appropriate inquiries concerning the businesses before utilizing some of them. If for almost any explanation you're in question, you shouldn't go ahead to make use of the payment gateway until such time you make further inquiries.