Advantages And Disadvantages Of E-Money In Germany

you won’t miss out on any points or bonuses. Purchases are made using NFC technology

Now it is made possible for you to pay with your phone. When it is time to swipe your card you now have the option to scan your card information of which you have saved from previous purchases through Internet based methods. You can save multiple cards at a time; all you would have to do is choose the card you would like to use. You can also transfer funds from one person to the other, same format as a bank but

- Customers can get online or use smartphone application to manage account, pay bills, etc. from anywhere in the world.

Mobile payment also referred to as mobile money, mobile money transfer or mobile wallet refers to payment services operated under financial regulation and performed from or via a mobile device. (www.wikipedia.org, 2016)

. Mobile payment users >190 MM in2012, which is over3 % of total mobile users worldwide a level considered as "mainstream”

The aim of the study is to evaluate the factors that influence the development of mobile payments, their strengths and barriers to development. I will present several key factors such as the impact on the environment and culture mobile payment changing environment, business or rapidly progressive changes in technology and relevant regulations and quite often set of new standards. I will discuss technical aspects such as safety and confidence in mobile payments, which is still not too high. So in the beginning it should be clarified what mobile payments are. Mobile payments also called m-payments are non-cash payments made by mobile device like smartphone or tablet and use mobile technologies such as. SMS, NFC, USSD, WAP. If we want to use mobile payments we

Mobile Banking is by far the best thing since sliced bread; having internet access on your mobile phone allows anyone to do anything that is needed, that is associated with a cellular device. The ability to transfer money from one account holder to the other is remarkably easy. I’m almost

In many developing countries it's common for a person to have a mobile phone but not a bank account. In fact, more than 1 billion people fit this description, and the number is only likely to increase. To that end, many companies are considering how to give residents access to banking services via their handsets. The GSM Association predicts that by 2012, nearly 300 million of the previously "unbanked" will be using some form of mobile banking.

Many financial institutions across the world have adapted to the change towards the cashless society by implementing electronic funds transfer via automated teller machines (ATM’s) and of late, the internet. By having a simple plastic card, society could completely eliminate the need for cash. The benefits range from the end user through to the government and the

Currently available, but with expectations of large increases, are mobile pay methods which are becoming more convenient and more secure. Retailers need to offer mobile payment or be left behind. We have Apple Pay and Google Wallet. PayPal has an app that allows customers to “check-in” when entering a store. Users can then punch in their phone numbers and a code at the cashier station and the charge is put on your account (Williams). Chase Pay allows consumers to show a code to their cashier and their account will be billed. On the horizon are Bluetooth payments where customers don’t even have to take their phones out of their pockets or purses. More advanced mobile changes are predicted in the future, like the Bluetooth payments (Kearsley). The goal of mobile payments is to make the process quicker, easier and more secure.

In Europe, contactless payment cards were used more than 1 billion times in the past 12 months.

Methodology: To perform a contactless payment, users hold their pre-authorised i-device against a payment terminal and

will bring mobile payments to the masses. NFC can be useful in a protocol to perform mobile payments in days Today. For this, a new protocol called mTrocos is presented . [1] It has

Mobile banking is an application of mobile computing which provides customers with the support needed to be able to bank anywhere, anytime using a mobile handheld device and a mobile service such as text messaging (SMS). Mobile banking removes space and time limitations from banking activities such as checking account balances, or transferring money from one account to another. In recent research and studies it was found that while mobile banking and more specifically SMS-based mobile banking applications have become popular in some countries and regions, they were still not widely used.

Citibank had designed its own mobile banking software that can be downloaded and installed on more than 100 handsets over any carrier’s network