Direct Mobile Billing
The consumer uses the mobile billing option during checkout at an e-commerce site—such as an online gaming site—to make a payment. After two-factor authentication involving a PIN and One-Time-Password (often abbreviated as OTP), the consumer's mobile account is charged for the purchase. It is a true alternative payment method that does not require the use of credit/debit cards or pre-registration at an online payment solution such as PayPal, thus bypassing banks and credit card companies altogether. This type of mobile payment method, which is extremely prevalent and popular in Asia, provides the following benefits:
- Security - Two-factor authentication and a risk management engine prevents fraud.
- Convenience - No pre-registration and no new mobile software is required.
- Easy - It's just another option during the checkout process.
- Fast - Most transactions are completed in less than 10 seconds.
- Proven - 70% of all digital content purchased online in some parts of Asia uses the Direct Mobile Billing method
An example of where Direct Mobile Billing is used is the BuyPower platform developed by mHITs Limited which allows subscribers to purchase prepaid electricity directly using their carrier airtime.
Read more about this topic: Mobile Payment
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