A Framework for Mobile Payment Consortia System (MPCS)

Abstract

Researches in mobile commerce have increased significantly with the emphasis on identifying new applications, designing frameworks, and engineering network solutions. Mobile payment is a natural successor to Web centric payments which has emerged as one of the sub domains of mobile commerce applications. A study reveals that there are wide ranges of mobile payment solutions and models which are available with the aid of various services such as short message service (SMS), but there is no specific mobile payment system for educational institutions to collect the fees as well as for student community to pay the fees without huge investment. This paper proposes a novel model called mobile payment consortia system to carry out the transactions from the bank to the academic institutions for the payment of fees by students through mobile phone. Mobile Payment Consortia System provides end-to-end security using symmetric signature scheme while carrying out the payment transactions. This system increases convenience in payment processes and reduces transactional cost for both students and educational institutions. Mobile payment consortia system (MPCS) is a model specifically designed to make payments and financial services in particular payment of fees by students from the customerpsilas bank to the institutionpsilas bank where they study using mobile device anytime and anywhere.