ISSN:
21693536
Journal Name:
IEEE Access
Volume:
7
Issue:
7
Pages From:
55669
To:
5567
Date:
Friday, April 26, 2019
Keywords:
Mobile payment, M-payment method, real-time payment, M-commerce.
Abstract:
We propose a new communication network that directly connects banks to their customers
through mobile phones. Our scheme aims to fulfill the needs of all stakeholders, achieve a high level of
security without sacrificing efficiency, and have a reliable infrastructure. It will eliminate new expenses,
minimize the overheads on all stakeholders, and result in time savings in implementation and marketing.
All bank services will become readily available anytime and anywhere; besides, it will enable individuals,
point of sale, service provider, or any other entity to access their own bank accounts. It will also relieve
users from the need to carry cash or credit cards since they will be able to pay bills, transfer money, receive
payments, or make reservations by using their mobile phone in real time.