What are Mobile Transactions?
Mobile transactions are payments and other transactions made with mobile phones and handsets.
There are several different approaches. One is Near Field Communication (NFC) where the handset comes physically near the terminal, however not in contact with it. Such contactless payments are already used for mass transit ticketing in many countries.
Mass transit ticketing and card payments are changing towards contactless automation. This makes transactions faster, more convenient and more secure. However, specially equipped handsets are needed for this purpose. While manufacturers are discussing such devices, this technology is not yet in widespread use.
Another approach is to utilize the SMS gateway. This is very convenient for small online payments, as the necessary technology is already here. Hundreds of millions of people are already able to pay using SMS, as they have phones with this familiar technology and the operators have a billing infrastructure in place.