INTRODUCTION By technology emerging and humans becoming more computer driven, the traditional way of doing sales are constantly changing. More people are relaying on technology to make their lives more simple and easy. Humans today want things available to them at a fast steady pace.The advantages of Mobile Payments Systems are: Convenient Fast Easy Simple
OBJECTIVEAt the conclusion of this presentation you will be able to Understand “Mobile Payment Systems” Identify Mobile Pay vs Traditional Pay Describe 4 types of Mobile Payments Set-up an mobile payment account
Mobile Payment Systems One of the newest forms of technology that is emerging within the retail market is “Mobile Paying System”. This is a fast pace growing business .Mobile Payment is an alternative payment method it is uses with either your cell phone or tablets. Instead of paying with cash, check, or credit card. A consumers can use a mobile phone to pay for a wide range of services, digital products or hard goods.
Mobile Pay vs Traditional Pay Mobile Payment Traditional Payment1. Contactless 1. Interactive2. Fast & Convenient 2. Time Consuming3. Used on the go-anywhere 3. Used in Physical Setting4. No land-line needed 4. Must be grounded to a land-line5. Wireless card reader 5. Card machine6. Instant Pay-out 6. Delayed payment
Different types of Mobile Pay page1 Premium SMS based transactional payments 1. Payment is sent via SMS text message. 2. Premium charge applied to you cell phone bill. 3. Service provider will notify merchant of payment. Examples: Ringtones, Screensavers, Games, Movies, Music & etc. Direct Mobile Billing 1. Payment is sent using an e-commerce site. 2. Two- factor authentication required. 3. No pre-registration or software needed. 4. Usually transaction is excepted within 10 mins. Examples: Gambling Sites, Interactive Games Sites, etc.
Different types of Mobile Pay page2 Mobile Web Payments (WAP) 1. Payment is sent via SMS text message. 2. Premium charge applied to you cell phone bill. 3. Service provider will notify merchant of payment. Examples: Online Shopping Stores, etc. Contactless NFC (Near Field Communication) 1. Used mostly in a physical retail store. 2. Uses a special mobile phone equipped w/ a smartcard. 3. Must be read by a mobile reader module. Examples: Starbucks, Bank Credit Cards, MTA (Metro),etc.
Mobile Set-up eHOW- Set-up instructionshttp://www.ehow.com/how_6711341_set-up-online-payment-systems.html Instructions 1 Go to the website for the company or business or utility that you owe money to. It could be your rental companys website, your electricity companys website, or a website for your loan, your gym, or anything else you pay on a regular basis. 2 Click on "Register for online payments," or "Create a new account." If you already have an account, click "log in" and use your account information to log in to the system. Once you log in or create your account and log in, you have access to the process and can set up your payment systems. 3 Click on "Set up Payment Systems," "Set up Automatic Payments," or "Make a Payment." You might need to click "View my Account" or "My Bill" first. 4 Read through your bill and make sure you agree with the amount you owe. Then click "Automatic" or "Online" for the payment type. If you do not see automatic or online listed, it means this company might not accept online payment systems. 5 Set up your payment system on the following screen. Input your bank account or credit card number when prompted. Select whether you would like to pay the same amount each month automatically, or whether you would like to log into the system each month and select an amount to pay. You can also select the length of time your automatic payments will run for. Read more: How to Set Up Online Payment Systems | eHow.com http://www.ehow.com/how_6711341_set-up- online-payment-systems.html#ixzz2E3oIkSOQ
Companies and Mobile PaymentsCompanies that use mobile systems are: Wal-Mart, Bank of America , AmazonCompanies that created the systems are: PayPal , Intuit, IsisCompanies that you can sign up yourself.. Isis, Groupon, PayPal
Summary Mobile pay is the way to go. It’s easy quick andmore reliable then traditional payment methods. As the world becomes more eco friendlysociety is moving towards paperless transactions. Mobile payment systems are becoming the new way of modern day payment processing.