NFC, cloud and closed systems are the mainstream of the mobile payment framework. Developers must master the advantages and disadvantages of these three to create a mobile payment system that consumers are willing to use. There are three possible payment frameworks for general mobile wallets or payment applications: NFC, cloud or closed systems. NFC is loved by providers and mobile networks due to the high standards of security and risk management processes. Independent startups Like cloud wallets, they usually connect users' cards through a cloud service and use data connectivity, geolocation or QR code (quick response)/barcode to trade. Merchants tend to choose closed systems because they like themselves. A gift card system with repeatable stored value is the main source of funding. These three ecosystems—NFC, Cloud Wallet, or Closed System—can even co-exist in a wallet and become a versatile mobile wallet that is easier to circulate to different device platforms, each of which may have its own Pros and cons, so developers must measure the cost of each and choose the one that works best. Each type of mobile payment system has its own strengths and weaknesses. Although companies often measure business models, time-to-market or customer ownership to make decisions, ultimately, ease of use, security, and added value drive consumers to pay. NFC is like many other wireless communication standards, such as Bluetooth or RFID (radio frequency identification), allowing two objects to exchange data packets. Although Bluetooth or RFID can still operate when the objects are separated by a few feet, the distance between NFCs is relatively short- ─ Generally about a centimeter range, can be used in a variety of action use cases: share photos between friends, take a poster to get promotional media downloads or read the traffic card to get the current balance. The applicant's NFC payment usually consists of three main components: the NFC antenna of the mobile phone, the anti-interference security component in the mobile phone (a smart chip, the user's card data is protected in the chip according to the EMV standard), and placed The non-contact NFC card reader in the store's checkout counter, if the consumer's mobile phone supports NFC, you can walk into any store that supports contactless payment, and sense the mobile phone payment on the card reader. For the merchant, this looks like The user swipes the card (or inserts a chip passcard, as in the US). At present, there are more than 125 million mobile devices supporting NFC technology, which allows two devices to exchange data at a distance of about one inch. The electromagnetic communication between the card reader and the mobile phone lasts for 0.5 seconds. During this time, the card reader will read the data from the security chip in the mobile phone. This information is the same as the encrypted data written on the magnetic stripe of the plastic card, but with additional data and passwords added later, they can be effective. Sex. The user experience of NFC payment is like this: when the consumer goes to the checkout, he will open the app, enter the PIN code, and when they are ready to pay, they will click the payment button or take the phone to the top of the card reader, or she just takes the phone. Above the reader, without opening the app, these interactions will vary depending on the non-contact standard of action used - the functional requirements specified by Visa payWave, MasterCard PayPass, American Express ExpressPay and Discover Zip - and card issuance How does the bank regulate the way its cards appear in POS terminals, the card readers alert consumers and businesses through loud buzz, the consumer's phone vibrates or displays some confirmation message, and the transaction is complete! Although NFC technology (sometimes referred to as mobile contactless payments) is well managed and widely used in some areas, such as South Korea's public transportation and vending machines, it is not highly acceptable in other markets, like the US and The UK, due to a few points, such as the availability of devices and merchants, is mainly due to the complex and fragmented infrastructure of NFC technology. Participants indispensable for NFC payments include mobile network operators (MNOs), trust management service platforms (TSMs), and service providers (possibly banks, merchants, or shipping authorization units). There are several wallets like Isis. With the participation of banks, this ecosystem will be more complex and there will be several TSMs and service providers. MNO It is agreed that TSM accesses the SIM card over the air, so it can install (and later remove) the card information of the bank customer, which is usually included in a small Java application that can be used by only one wallet application. TSM The card data on the device is securely installed and managed on behalf of the bank through the mobile data network. Bank or card issuer Issue cards to customers and specify how card information can be used in action situations. service provider Control the user experience and promote communication between banks, MNOs and customers, sometimes the service provider and the bank are the same, as the bank begins to integrate NFC payments as part of the mobile banking application. In the past two years, there have been successful NFC pilot projects in many countries, promoted by cooperation between device manufacturers, banks and telecom operators... and supported by major payment networks like Visa and MasterCard. advantage From a security perspective, the main advantage of the NFC ecosystem is that consumers feel at ease. NFC payments are the safest form of mobile transactions. In order to pay, users must put their phones very close to the card reader. It uses strong bank-level security. Architecture, such as smart chips on the device (as compared to applications that store consumer card data in mobile operating systems or cloud services, hackers are almost impossible to destroy), as well as secure over-the-air data connections, multi-factor authentication And PIN code to prevent malicious use of any application, if the user loses the phone, call the bank or service provider to prevent the lost phone from making unauthorized payments, or to completely remove the payment function. Similarly, research shows that if an action payment application is related to a consumer's financial institution, they are more likely to trust it, compared to a technology company like Google or Apple and a mobile network operator like Verizon or AT&T. Seeing that consumers are more able to accept financial institutions such as credit card networks and banks. Moreover, the speed of the NFC transaction itself makes cash look obsolete, and some applications allow you to feel as much as you want, without having to open the application (usually for small transactions or transfer scenarios), rather than trying to put the bar code or QR code into place. Align the scanner (must be an optical scanner, because the cell phone glass screen reflects the laser light of the general scanner), some users feel that the NFC device is more natural, although it is less acceptable in the US than in Canada and Brazil. And slow (NFC POS readers have a higher penetration rate in the retail channel), NFC is definitely faster than credit cards and cash, from start to finish is about 1/3 of other forms of payment, take out the wallet, take out the credit card , swipe the card, enter the PIN code, get the receipt from the cashier, the time can take about 45 seconds (you look at it yourself!), if you have taken out the phone (you may do this when you are queuing boring), NFC pays It usually takes about 12 seconds, and the time the cashier gives you the receipt is saved, because the app can provide you with a complete transaction record. Breaker Mcb,Mcb Circuit Breaker,32A Circuit Breaker,Miniature Circuit Breaker ZHEJIANG QIANNA ELECTRIC CO.,LTD , https://www.traner-elec.com
