Carrier Billing is a Mobile Payment Methods where a consumer uses the mobile billing option during checkout at an e-commerce site to make a payment. After two-factor authentication involving a PIN and One-Time-Password, the consumer's mobile account is charged for the purchase. It is a true alternative payment method that does not require the use of credit/debit cards or pre-registration at an online payment solution such as PayPal, thus bypassing banks and credit card companies altogether. This type of mobile payment method, which is extremely prevalent and popular in Asia, provides the following benefits:
- Security (Two-factor authentication and a risk management engine prevents fraud);“
E-wallets will equal cards as the most popular payment method globally.
In 2012, $295 billion was processed through e-wallet payments. This is set to rise to $1,656 billion by 2017.
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Carrier Billing is a Mobile Payment Methods where a consumer uses the mobile billing option during checkout at an e-commerce site to make a payment. After two-factor authentication involving a PIN and One-Time-Password, the consumer's mobile account is charged for the purchase. It is a true alternative payment method that does not require the use of credit/debit cards or pre-registration at an online payment solution such as PayPal, thus bypassing banks and credit card companies altogether. This type of mobile payment method, which is extremely prevalent and popular in Asia, provides the following benefits:
- Security (Two-factor authentication and a risk management engine prevents fraud);
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