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M-payments are payments made using mobile handsets and other devices, either to directly purchase or to authorize payments for goods and services. Such devices are playing an increasing and evolving role in the wider development of electronic payment systems world-wide. There are currently two distinct m-payment channels: Pay-as-go or contactless card technologies, Text messaging systems using the so-called "Over the Air" technology. The first are used mainly for in-store payments (i.e. in shops, restaurants etc.), when a POS reader is required. Due to the ease of use and the swift execution of transaction, the technology is gaining a wide acceptance of customers. This system is witnessing increasing availability and user acceptance among public transportation providers.
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