The paper presents an effective mobile-to-mobile payment system. A mobile phone with or without SIM card is enabled as an EMV payment instrument and is linked to a debit or credit account in a bank to pay merchant who has a mobile phone or an on-line EMV capable terminal. In a single phone, multiple credit or debit accounts from different banks can be configured without compromising on security. The proposed framework provides a secure and convenient payment mechanism without any terminal infrastructure.
Index Terms:
Mobile phone, SIM, EMV, Digital signature
Citation:
Ashutosh Saxena, Manik Lal Das, Anurag Gupta, "MMPS: A Versatile Mobile-to-Mobile Payment System," icmb, pp.400-405, International Conference on Mobile Business (ICMB'05), 2005