Technology has moved forward a lot. We are very much used with online payment solutions for wide variety of daily purpose which varies from online money transfer to e-commerce solutions. For instance now a days we are booking our air tickets, train tickets, movie tickets etc through online payment solution. Those with a few technology knowledge are used with all kind of online payment systems. By the advent of mobile phones which created another platform for payment, which are going to be more popular than online payment solutions,The mobile payment system.
Yes mchek has made it possible, the mobile payment system which enable online payment system into mobile, the mobile as an e-purse (electronic purse). The solution is currently live in India. mChek already identified their potential markets. The company is based in Bangalore. Company had already tied with banks like ICICI bank, city bank, corporation bank, HDFC etc. The application works with GSM currently the application is live with AIRTEL customers only but I guess soon this solution will be live with other providers too. They are selling their USP via AIRTEL which add more attention to providers. They had tied up with VISA and MasterCard for payment system. They are targeting both merchants and end users. mcheck is just an enabler they provide solution that make payment system mobile enabled. Currently they are backing payment via mobile for AIRTEL, transfer money via Airtel, ticket booking in Yatra etc.
How does application works?
To avail this facility you have to signup with mchek first(currently Airtel customers only). The registration is pretty simple just enter your mobile number and after that you will receive a USSD push from mchek. USSD push is a simple session oriented SMS push(similar to session oriented login in online). You will receive a j2me application on your mobile if your mobile is j2me enabled. Either you can use j2me application to add you mchek PIN or you can use online interface to add a PIN. The PIN is 6 digit numeric code which can be used later for transaction(s). This PIN should be kept secret don’t divulge this number to anyone. After adding PIN you need to register either your debit card or credit card for future transaction(s). You don’t need to carry your debit / credit card for money transfer afterwards. Suppose you need to pay your Airtel bill once you register your credit / debit card you pay bill from mobile itself. You can send query like “PAY BILL” to a particular number you will receive a USSD PUSH which will ask for mchek PIN and amount to transfer. If the PIN is correct the mchek will communicate with payment gateway and will process the payment. So simple as sending an SMS you can pay your monthly bills.
We can also power our existing payment solution to be mobile powered by registering mchek as a merchant. Now I am in house for developing one of our solution to be mchek enabled.They are providing libraries for platforms like php, java.
The solution is payment so be careful while developing solutions. A simple loophole may burn a lot.