A Survey of System Platforms for Mobile Payment

With the evolution and significant growth in wireless technology and the development of mobile commerce, businesses can achieve superior performance through the implementation of platforms for mobile payment. However, there are several platforms for mobile payment to choose from which makes the selection of an appropriate platform for specific applications a challenging task. In response to this challenge, the most common mobile payment platforms recorded in the literature have been reviewed. This paper presents the result of this review describing the advantages and disadvantages of each system and offers ranking of the technologies considered. MCDM method is used for assessing and comparing different platforms from technical and business points of view. The results indicate that SIM-based application with binary SMS offers the best solution compared to other alternatives.