Cloud Based Mobile Payment
Google, PayPal and GoPago have innovated a cloud based approach to in-store mobile payment. The cloud based approach places the mobile payment provider in the middle of the transaction, which involves two separate steps. First, a cloud-linked payment method is selected and payment is authorized via NFC or an alternative method. During this step, the payment provider automatically covers the cost of the purchase with issuer linked funds. Second, in a separate transaction, the payment provider charges the purchaser's selected, cloud-linked account in a card-not-present environment to recoup its losses on the first transaction.
Read more about this topic: Mobile Payment
Famous quotes containing the words cloud, based, mobile and/or payment:
“These boys who love their mother
who loves men, who passes on
her sons to other women;
The cloud across the sky. The windy pines.
the trickle gurgle in the swampy meadow
this is our body.”
—Gary Snyder (b. 1930)
“Both magic and religion are based strictly on mythological tradition, and they also both exist in the atmosphere of the miraculous, in a constant revelation of their wonder-working power. They both are surrounded by taboos and observances which mark off their acts from those of the profane world.”
—Bronislaw Malinowski (1884–1942)
“From three to six months, most babies have settled down enough to be fun but aren’t mobile enough to be getting into trouble. This is the time to pay some attention to your relationship again. Otherwise, you may spend the entire postpartum year thinking you married the wrong person and overlooking the obvious—that parenthood can create rough spots even in the smoothest marriage.”
—Anne Cassidy (20th century)
“Put God in your debt. Every stroke shall be repaid. The longer the payment is withholden, the better for you; for compound interest on compound interest is the rate and usage of this exchequer.”
—Ralph Waldo Emerson (1803–1882)