Short-range wireless technologies with mobile payments systems

Abstract

Mobile devices and wireless technologies seem destined to make a large and continuing impact on our lives. Mobile devices especially have been widely used in the last few years, and recent developments in wireless technologies have provided some new solutions to problems of connectivity. Wireless technologies provide a new channel for implementation of mobile payments systems. The potential of short-range wireless technologies in commercial markets is enormous. Mobile payments is one such exciting application presently in development. Mobile payments systems offer great potential for both mobile and non-mobile products and services. However, in this early stage, mobile payments systems are facing some challenges. There are several available technologies for the applications and the mobile payments world is still waiting for standardization.This paper examines several available short-range wireless technologies for mobile payments systems. The ways in which short-range wireless technologies support mobile payments systems are explored. This paper also evaluates the advantages and issues involved with using these technologies. Finally, this paper will discuss the future developments of mobile payments with wireless technologies and the challenges faced by the mobile payments industry.