MMPS: A Versatile Mobile-to-Mobile Payment System
Ashutosh Saxena, Manik Lal Das, A. Gupta · 2005
The paper presents an effective mobile-to-mobile payment system. A mobile phone with or without SIM card is enabled as an EMV payment instrument and is linked to a debit or credit account in a bank to pay merchant who has a mobile phone or an online EMV capable terminal. In a single phone, multiple credit or debit accounts from different banks can be configured without compromising on security. The proposed framework provides a secure and convenient payment mechanism without any terminal infrastructure.