Mobile Payment Magazine

FIME

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FIME advances end-to-end transaction solutions and mobile services, enabling market security and interoperability.

As an independent worldwide leader in consulting and testing services, FIME ensures the compliance of mobile devices and chip-based applications to industry standards. Its international team works with manufacturers, banks and authorities within the EMV payments, mobile near field communication (NFC), telecom, transport and e-identity sectors. [Read more…]

Consumer Versus Merchant Initiated Mobile Payment

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Payments can be initiated by both the consumer or the merchant, although consumer payment is becoming the most common since it suits the personal nature of mobile devices.

  1. Consumer focused – The consumer chooses to make a mobile payment. They interact with the payment server using their mobile device to authenticate and authorize the payment. They are subsequently presented with status showing confirmation of the successful transaction or failure with a reason. Extensions to this include Near Field Communications or Contactless Payment options using additional hardware built into the mobile phone.
  2. Merchant focused – This is similar to the consumer focused scenario, however the transaction is entered and completed by the merchant (or their representative). This is similar to Mobile EFTPOS except it is processed via a mobile phone/device.

Source: Wikipedia