In theory, the concept of mobile payments has a strong business case, given the high market penetration rates of mobile devices, such as cellular phones and PDA?s, in many parts of the world. In addition, mobile operators and financial institutions, through the use of these devices, envision an attractive way to enable their customers to make payments. On the consumer side, users can reap the benefits of convenience, permitting them to buy goods and services from any location.
In principle, a mobile device can be used as a POS (point of sale) tool. Mobile operators and financial institutions consider this concept as the next logical step in making mobile devices a trusted payment device for consumers, acting as a payment instrument supplementing cash, cheque, credit card and debit card.
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