Present and Future of Mobile Payments

Mobile payment is the collection of money from a consumer via a mobile device such as their mobile phone, SmartPhone, or Personal Digital Assistant (PDA). Mobile payments can be used to purchase a good or service online, pay in a retail location, or transfer money to another person. There are many methods for mobile payments, such as premium SMS (Short Message Service), WAP (Wireless Application Protocol), and NFC (Near Field Communication). Following a few key points about these particular methods.