Mobile Payment concept and Value Creation in the Credit Card Chain

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Executive Summary

Payment transactions using paper money and coins have been significantly reduced and have been replaced by electronic payment transactions over the years. Among consumers, the most common payment type is still the credit card, a product offered by financial institutions, banks, and a growing number of stores. They can be used to purchase goods and services including virtual stores in the Internet. They do not consist of real money, but of a plastic card entitling its holder to buy those goods and services based on the holders promise to pay for them and on an immediate form of credit.

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