Mobile Payment Architectures for India

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Executive Summary

Mobile payments are a new and alternative payment method. Instead of using traditional methods like cash, cheque, or credit cards, a customer can use a mobile phone to transfer money or to pay for goods and services. Mobile payments have numerous advantages over traditional payment methods. Apart from their apparent flexibility, they enable consumers who do not have easy access to banking facilities to participate readily in financial transactions. Unfortunately, existing mobile payment solutions in India are not interoperable; i.e. they only offer services for merchants registered with them and do not allow the transfer of money to, or between, users of other payment providers.

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