Consumer Versus Merchant Initiated
Payments can be initiated by both the consumer or the merchant, although consumer payment is becoming the most common since it suits the personal nature of mobile devices.
- Consumer focused - The consumer chooses to make a mobile payment. They interact with the payment server using their mobile device to authenticate and authorize the payment. They are subsequently presented with status showing confirmation of the successful transaction or failure with a reason. Extensions to this include Near Field Communications or Contactless Payment options using additional hardware built into the mobile phone.
- Merchant focused - This is similar to the consumer focused scenario, however the transaction is entered and completed by the merchant (or their representative). This is similar to Mobile EFTPOS except it is processed via a mobile phone/device.
Read more about this topic: Mobile Payment
Famous quotes containing the words consumer, merchant and/or initiated:
“The so-called consumer society and the politics of corporate capitalism have created a second nature of man which ties him libidinally and aggressively to the commodity form. The need for possessing, consuming, handling and constantly renewing the gadgets, devices, instruments, engines, offered to and imposed upon the people, for using these wares even at the danger of one’s own destruction, has become a “biological” need.”
—Herbert Marcuse (1898–1979)
“Again, the kingdom of heaven is like a merchant in search of fine pearls; on finding one pearl of great value, he went and sold all that he had and bought it.”
—Bible: New Testament, Matthew 13:45,46.
“The great work must inevitably be obscure, except to the very few, to those who like the author himself are initiated into the mysteries. Communication then is secondary: it is perpetuation which is important. For this only one good reader is necessary.”
—Henry Miller (1891–1980)