Abstract
In addition to contrasting business models and the varying degrees to which the use of mobile payment systems has evolved, significant country-specific differences can also be seen at the intersection of technology and security standards. The dominant solutions in the developing countries, for instance, are based on a combination of USSD and SMS technology. In the first-mover countries of Japan, South Korea and China, companies invested in a contactless RFID smart card system known as “FeliCa” at an early stage, and thereby embraced a predecessor to the NFC technology that has captured the imagination of players in Europe and the United States. Then there has been the succession of other technologies such as those based on wireless application protocol (WAP) and their accompanying mobile networks GPRS, EDGE, UMTS and LTE. Also warranting mention is the use of QR codes, two dimensional barcodes that play a role in various independent mobile payment services such as the one introduced by Starbucks. And, last but not least, there are the various operating system applications or “apps” for cellphones and smartphones (e.g. Android, iPhone, Blackberry) that are used in conjunction with the above-mentioned technologies.
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