Mobile web payments (WAP)

Today, the use of mobile phone is growing day by day and every other person has opted it as the only solution for communication. So the idea of using phone as transactional device burst into human mind. Particularly the telecommunication industry, searching for ways to increase turnover, established the thought to allow the consumers to pay for services or product through their mobile phones.

This way mobile turned into payment device, and it was very easy to use and carry. Carrying out transactions using a mobile phone is an effective method and people are embracing it rapidly. The payment system is being widely adopted and this is believed to be one of the factors that inhibits

widespread use of mobile commerce. Mobile payment method is getting popular very fast. It is expected to cross the figure of 600B USD in 2013, almost double as in February, 2011, when it was about 300B USD globally.

There are four primary models for mobile payments:

Premium SMS based transactional payments

Direct Mobile Billing

Contact less NFC (Near Field Communication)

Mobile web payments (WAP)

Here we will discuss on the last option, i.e. Mobile web payments in short WAP, that is abbreviated form of Wireless Application Protocol. Let’s see the process and functionality included in it. At first, the consumers need to download an application and install it in advanced mobile device. Also consumer uses a particular web page displayed on his mobile phone device. The source for the application is normally a web page. That additional application makes mobile payment very easy. When a person starts to use it, gets following benefits:

Mobile web payment can lead back to a store or to other commodities that consumer may choose, by Follow-on sales. These pages can be bookmarked easily by consumers, because they have specific URL, and it is so easy to re-visit the pages or share them.

The process is quick and created customer satisfaction in paying predictable payments. However, unless the customers’ account is directly charged by its network operator, the use of a credit or debit card, or a registered online payment solution such as PayPal is still required just as in a desktop environment.

Customers feels at comfort because of familiar set of online payment pages.

These days the mobile web payment methods are now being made mandatory by many mobile network operators. To make purchase the customer can use a separate payment system that is only assigned to credit card. He needs to enter the details to buy goods. This process is familiar but any entry of details on a mobile phone is known to reduce the success rate, in financial term, called Conversion of payments. In addition, putting the detail of credit card in device, makes things a little easy. If the payment vendor can automatically and securely identify customers then card details can be recalled when you make purchases other time, turning credit card payments into simple single click-to-buy giving higher conversion rates for additional purchases. Thanks to overgrowing technology, that is making our lives comfortable!


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