SMS
service needs no introduction, SMS services are being used by
billions of users worldwide. When the SMS services were introduced no
one ever thought that one day it will be used as a payment method.
Nowadays SMS payment method and the industry around it has been
hugely successful. Mobile technology has undergone great levels of
innovations and evolutions, resulting in more powerful mobile devices
and communication channels to be available, that can handle a variety
of business transactions and practical communication. The benefits of
using JunglePay SMS services are that
users can pay without having to
leave the site or having to sign up therefore making it an effective
way of fabricating your on-line offering or adding variety to your
current payment options. In addition, with no credit card details
required you are able to access a wider range of customers. JunglePay
provides a wide range of application deployment ranging from social
networking sites, blogs, games, and web applications. You can fully
customize the JunglePay widget according to your choice using the
API. Due to its customizable interface and easy installation,
JunglePay is one of the best mobile billing application providers. It
supported by the majority of the browsers and requires minimal
programming skills as all the work is handled by JunglePay experts.
SMS
payments will continue to be a growth area in mobile payments.
JunglePay users
can simply pay for products and services using the SMS message sent
to their mobile phone or it can be in the form of a USSD
(Unstructured Service Supplementary Data) request. The USSD requests
are generally hosted on the Telco operators' domain. The products and
services that are purchased using SMS pay are either directly
available on the mobile or can be shipped to the customer later. Thus
making it a very simple and convenient method SMS payment method. The
fact that the only thing that user needs is a phone which is capable
of sending SMS, even if you don't have a mobile phone you can use the
Fixed Line/Land-line or the credit card.
Why
SMS Payment method is becoming popular?
Many
tasks which were earlier done manually or in a desktop/laptop are now
preferably being done on mobile phones. The mobility, connectivity
and increasing processing capabilities makes them a strong medium of
mobile commerce. There can be several parties involved in a payment
procedure. The nature and number of parties involved in the procedure
will define a lot of other characteristics of the procedure. The SMS
Payment method involves the following parties:
Merchants
and Customers: These are the end parties that are ultimately making
the trade of good or services. Customers use SMS pay to transfer the
money to the Merchants.
Financial
Institutions: These are the financial institutions that are already
maintaining the finances of the Users. They are normally the final
payment settlement agency on the behalf of the user, either on
debit or credit, depending on the nature of services subscribed by
the users. The involvement of private or public banks in the payment
procedure can really empower it as they are the trusted partners of
the users and have the dedicated systems for reliability, security
and extensive facilities for settlement of the payment as they
already posses the users’ data.
