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Since SMS lacks end-to-end encryption, such solutions employ a higher-level security strategies known as 'tokenization' and 'target removal' whereby payment occurs without transmitting any sensitive account details, username, password, or PIN.

To date, point-of-sales mobile payment solutions have not relied on SMS-based authentication as a payment mechanism, but remote payments such as bill payments, and membership or subscription renewals are commonplace.

This is used as an electronic ticket for access to cinemas and events or to collect hard goods.

Transactional payments by SMS have been popular in Asia and Europe and are now accompanied by other mobile payment methods, Remote Payment by SMS and Credit Card Tokenization Even as the volume of Premium SMS transactions have flattened, many cloud-based payment systems continue to use SMS for presentment, authorization, and authentication, with the security and reliability of existing payment infrastructure.

In comparison to premium short code programs which often exist in isolation, relationship marketing and payment systems are often integrated with CRM, ERP, marketing-automation platforms, and reservation systems.

Many of the problems inherent with premium SMS have been addressed by solution providers.

A simple mobile web payment system can also include a credit card payment flow allowing a consumer to enter their card details to make purchases.

This process is familiar but any entry of details on a mobile phone is known to reduce the success rate (conversion) of payments.

A consumer using a special mobile phone equipped with a smartcard waves his/her phone near a reader module.

Mobile payment (also referred to as mobile money, mobile money transfer, and mobile wallet) generally refer to payment services operated under financial regulation and performed from or via a mobile device.

Instead of paying with cash, cheque, or credit cards, a consumer can use a mobile to pay for a wide range of services and digital or hard goods.

This type of mobile payment method, which is extremely prevalent and popular in Asia, provides the following benefits: Premium SMS / Premium MMS In the predominant model for SMS payments, the consumer sends a payment request via an SMS text message or an USSD to a short code and a premium charge is applied to their phone bill or their online wallet.

The merchant involved is informed of the payment success and can then release the paid for goods.

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