What does mobile payment mean? What does China Mobile s mobile payment mean?

Mobile payment[2][1], also known as mobile payment, is a service method that allows users to use their mobile terminal (usually mobile phone) to make accounting payments for goods or services consumed. Units or individuals directly or indirectly send payment instructions to banks and financial institutions through mobile devices, the Internet, or proximity sensing to generate currency payment and fund transfer behaviors, so as to realize the mobile payment function. Mobile payment integrates terminal devices, the Internet, application providers and financial institutions to provide users with financial services such as currency payment and bill payment.

Mobile payment is mainly divided into two types: near-field payment and remote payment, the so-called near-field payment, which is very convenient to use the mobile phone to swipe the card to take a car, buy things, etc. Remote payment refers to: payment methods carried out by sending payment instructions (such as online banking, ** banking, mobile payment, etc.) or with the help of payment tools (such as mail, remittance), such as palm e-commerce launched by palm payment, palm recharge, palm **, etc.

At present, the payment standards are not uniform, which has caused a lot of confusion about the relevant promotion work. The development of mobile payment standards has been going on for more than three years, mainly in the competition between UnionPay and China Mobile. According to a report by data research firm IDC, the amount of global mobile payments will exceed $1 trillion in 2017.

The strong data means that the global mobile payment business will continue to show a strong trend in the next few years, and behind it is the rapid staking of all parties in this field.

China Mobile's mobile payment business is a comprehensive mobile payment service provided by China Mobile Group for users.

Users only need to open a mobile payment service, and the system will open a mobile payment account for the user, through which the user can make remote purchases, such as Internet shopping, payment of phone bills, water bills, electricity bills, gas bills and cable TV bills.

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Users can log in**, enter their mobile phone number and service password, and click to open mobile payment.

Mobile payment refers to the use of electronic products such as mobile phones by mobile clients to make electronic money payments. Mobile payment effectively unites the Internet, terminal equipment, and financial institutions to form a new type of payment system, and mobile payment can not only make monetary payments, but also pay for living expenses such as phone bills, gas, water and electricity.

Extended Information: Mobile Payment Definitions.

Mobile payment refers to the use of a regular or smartphone to complete or confirm a payment, rather than paying with cash, bank card or check. Buyers can use their mobile phones to purchase a range of services, digital products or goods. Mobile payment is a new type of payment method in the Internet era, which is centered on mobile terminals, and settles and pays for purchased products through mobile terminals, and the main form of mobile payment is mobile phone payment.

Mobile payments are derivatives of third-party payments. The so-called third-party payment refers to the transaction through the third-party payment platform, after the buyer purchases the goods, uses the account provided by the third-party platform to pay for the goods, and the third party notifies the seller that the payment has arrived and the goods are delivered; After the buyer inspects the item, the buyer notifies the seller of the payment, and the third party transfers the payment to the seller's account. According to the researchers, third-party payment essentially acts as a credit intermediary, providing a certain credit guarantee for the payment activities of transactions, so as to eliminate the credit risk problem caused by the asymmetric information between buyers and sellers.

Features. (1) The time and space constraints are small.

In the Internet era, mobile payment has broken the limitations of traditional payment on time and space, enabling users to make payment activities anytime and anywhere. Traditional payment is mainly cash payment, which requires face-to-face payment between users and merchants, so there are great restrictions on the time and place of payment; Mobile payment is mainly based on mobile payment, and users can use mobile phones to pay for activities anytime and anywhere, without being limited by time and space, such as: users can shop and pay for online activities at any time.

2) Convenient management.

Users can carry out various payment activities through their mobile phones anytime and anywhere, and manage the functions of inquiry, transfer, payment, and recharge of personal accounts, and users can also understand their consumption information at any time. This provides great convenience to the user's life and is more convenient for the user to manage his personal account.

3) High degree of privacy.

Mobile payment means that users bind their bank cards to their mobile phones, and when they make payments, they need to enter a payment password or fingerprint, and the payment password is different from the bank card password. This makes mobile payment better protect the user's privacy, and its privacy is higher.

4) High degree of comprehensiveness.

Mobile payment has a high degree of comprehensiveness, and it provides users with a variety of different types of services. For example, users can pay for water, electricity, and gas at home through their mobile phones; Users can manage their personal accounts through their mobile phones; Users can make various payment activities such as online shopping through their mobile phones.

This reflects the high degree of integration of mobile payment.