What is the working principle of mobile payment?

Abstract: Mobile payment refers to a service mode that allows mobile users to use their mobile terminals (usually mobile phones) to pay for the goods or services they consume. After bank card payment and online payment, mobile payment has become a new favorite. So, what is the working principle of mobile payment? What are the ways to pay by mobile phone? What is the working principle of mobile phone payment? What are the ways of mobile phone payment?

What is the working principle of mobile phone payment?

The basic principle of mobile phone payment is to establish a one-to-one relationship between the user's mobile phone SIM card and the user's own bank card account. The user can complete the transaction payment request by sending a short message under the guidance of the system short message instruction, which is simple to operate and can be traded anytime and anywhere. Users can also pay through WAP and client without any binding. Users can complete the transaction under the guidance of SMS, and only need to enter the bank card number and password, and UnionPay will settle the account.

mobile payment, a personalized value-added service, can realize many payment functions. This service emphasizes mobile payment and consumption. When we are in a hurry to find coins in front of the vending machine, mobile phone payment can easily solve this problem. When customers are in other places, or after work in the business hall of mobile operators, looking for someone to pay the phone bill and looking for a mobile phone recharge card, and consuming energy, mobile phone payment will really make the mobile phone a portable electronic wallet.

What are the methods of payment by mobile phone

1. Fees are charged by mobile phone bill, and users pay this fee while paying their mobile phone bill. In this way, mobile operators provide users with credit, but this method of charging on behalf of telecom operators is suspected of operating financial services beyond the scope, so its scope is limited to downloading mobile phone ringtones and other limited services, and the transaction amount is limited. (mobile phone bill payment method)

2. The fee is deducted from the user's telephone bank account (debit account) or credit card account. In this way, the mobile phone is just a simple information channel, which connects the user's bank account or credit card number with his mobile phone number. If the mobile phone number is changed, it needs to be changed at the account opening bank. (specify binding bank payment)

3. Unbound mobile phone payment, individual users can pay with various debit cards with UnionPay logo without opening the mobile phone payment function in the bank, and it is safer and faster to communicate by adopting dual-channel communication mode and asynchronous transmission. Relatively speaking, this method is the simplest, convenient and fast. (that is, UnionPay Express Payment)

4. Combined hardware

Payment is made by combining a piece of hardware with a mobile phone. Hardware such as three-dimensional mobile phone card reader and Lakara mobile phone card reader can be combined with mobile phone to achieve the effect of payment.

5. Alipay

refers to the payment method that an Alipay account is bound by a mobile phone and a mobile payment service is customized, and then a specific SMS instruction is sent to a specific SP SMS service number through a mobile phone SMS message, and the transaction type is instant receipt.