ii) USSD solutions - equally effective are solutions that use unstructured service that is supplementary (USSD) and easy menus to produce mobile payment solutions. Bank mobile payment providers in South Africa have observed the success that is greatest with USSD
solutions. However because the initial leg of the deal is not encrypted or protected, most of these solutions happen confined to "shut loop transactions" - where money is passed away between reports or users at a solitary bank, however between banking institutions. This may be a huge constraint to attaining widespread use of mobile payments as interactions are going to be confined to either the financial institution's own customers and out of network payments must be to money. As all phones can use USSD, the clear answer can reach large target segments, so when the USSD service will not need integration utilizing the SIM card, these solutions can be launched with reduced participation of the MNO. Even though MNO needs to consent to make the solution available and this is a huge problem in some markets. In USSD solutions you can now "play" and banking institutions have tended to be the winners.
iii) GPRS/Java solutions - involving packages. As noted above downloading solutions to an "enhanced" phone is considerably easier, as well as an number that is increasing of have actually higher quality phones, or soon may have them. It's likely that a lot of those who are banked now have phones that may handle such packages. Ecommerce model could very well be the most contestable since the downloadable application can be from the bank, mobile system operator or every other alternative party. The downside remains that the perfect solution is isn't any more safe than accessing the internet, also to make up the provider for the associated danger transaction charges have a tendency to greater.
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The problem of money transfer from a payment system to a different
Most of the time, electronic payment systems do not cooperate with the other person. If this is the full situation, you can make use of e-currency change solutions. Nevertheless, it may digest a complete lot of time whenever you lack something you'll trust for this purpose.
Absence of privacy
Because the database regarding the payment system shops all your deals - such as the name of recipient, amount and time - the cleverness agency can access all of your information. Decide on whether that is good or bad.