Mobile Device
Personal device with mobile communication capabilities such as a telecom network connection, Wi-Fi, Bluetooth … which offers connections to internet. Examples of mobile devices include mobile phones, smart phones, tablets ...
MNO(Mobile Network Operator)
A Mobile phone operator that provides a range of mobile services, potentially including facilitation of NFC services. The MNO ensures connectivity Over the Air (OTA) between the consumer and its PSP using its own or leased network (the latter are sometimes referenced as MVNOs - Mobile Virtual Network Operators).
Mobile Payment Service
Payment service made available by software/hardware through a mobile device.
Merchant:
The beneficiary within a mobile payment scheme for payment of goods or services purchased by the consumer/payer.
The merchant is a customer of its PSP.
Digital Wallet
A service accessed through a device (e.g., a PC) which allows the wallet holder to securely access, manage and use a variety of services/applications including payments, identification and non-payment applications. A digital wallet is sometimes also referred to as an e-wallet.
Merchant Wallet
A type of wallet where the payment gateway and the mobile wallet gateway are integrated services at the merchant’s website.
Mobile code
A user verification method used for mobile card payments. It is a code entered via the keyboard of the mobile device to verify the cardholder’s identity as a cardholder verification method.
Credentials
Payment/banking account related data that may include a passcode (mobile code, on-line passcode, etc.) provided by the PSP (issuer) to its customer which is provided via his/her mobile device for identification/authentication purposes in the context of mobile payments.
MCP - Mobile Contactless Payment
A mobile device initiated payment where the cardholder and the merchant (and/or his/her equipment) are in the same location and communicate directly with each other using contactless radio technologies, such as NFC, for data transfer (also known as contactless payments).
TSM - Trusted Service manager
A trusted third party acting on behalf of the secure element issuers and/or the mobile payment/authentication application issuers in the case where a secure element is involved, or on behalf of the mobile wallet issuers.
MPP - Mobile Proximity Payment
A mobile payment where the communication between the mobile device and the Point of Interaction device takes place through a proximity technology (e.g., NFC, QR code, etc.).
MRP - Mobile Remote Payment
A payment initiated by a mobile device whereby the transaction is conducted over a mobile telecommunication network (e.g., GSM, mobile internet, etc.) and which can be made independently from the payer’s location (and/or his/her equipment).
NFC - Near Field Communication
A contactless protocol specified by ISO/IEC 18092.
Payment Gateway
A service operated by a beneficiary’s PSP or a trusted third party that manages the authorisation of payments for merchants.
It facilitates the transfer of information between the payment portal (such as a website or mobile device) and the beneficiary’s PSP.
Payment Scheme
A technical and commercial arrangement set up to serve one or more payment systems and which provides the organisational, legal and operational framework rules necessary for the payment services marketed (e.g. card scheme, e-payment scheme, …).
MPOS
The usage of a (consumer) mobile device to facilitate payments and enable acceptance of payment instruments.
Mobile Wallet Issuer
The service provider that issues mobile wallet functionalities to the customer (consumer or merchant).
Mobile Wallet Passcode
A code entered by the consumer/payer via his/her mobile device that may be required to activate a mobile wallet.
Payment Gateway
A service operated by a beneficiary’s PSP or a trusted third party that manages the authorisation of payments for merchants.
It facilitates the transfer of information between the payment portal (such as a website or mobile device) and the beneficiary’s PSP.
Mobile Wallet Gateway
A service operated by the mobile wallet issuer or a trusted third party acting on its behalf, which establishes for mobile transactions a link between the consumer/payer and its mobile wallet and between the mobile wallet and the payment gateways.
During the payment transaction, it allows the payment gateway to receive authentication data directly from the mobile wallet.
For life cycle management, it establishes a link between the mobile wallet and the mobile wallet issuer to download credentials, payment and/or authentication applications from the PSP.
Personal device with mobile communication capabilities such as a telecom network connection, Wi-Fi, Bluetooth … which offers connections to internet. Examples of mobile devices include mobile phones, smart phones, tablets ...
MNO(Mobile Network Operator)
A Mobile phone operator that provides a range of mobile services, potentially including facilitation of NFC services. The MNO ensures connectivity Over the Air (OTA) between the consumer and its PSP using its own or leased network (the latter are sometimes referenced as MVNOs - Mobile Virtual Network Operators).
Mobile Payment Service
Payment service made available by software/hardware through a mobile device.
Merchant:
The beneficiary within a mobile payment scheme for payment of goods or services purchased by the consumer/payer.
The merchant is a customer of its PSP.
Digital Wallet
A service accessed through a device (e.g., a PC) which allows the wallet holder to securely access, manage and use a variety of services/applications including payments, identification and non-payment applications. A digital wallet is sometimes also referred to as an e-wallet.
Merchant Wallet
A type of wallet where the payment gateway and the mobile wallet gateway are integrated services at the merchant’s website.
Mobile code
A user verification method used for mobile card payments. It is a code entered via the keyboard of the mobile device to verify the cardholder’s identity as a cardholder verification method.
Credentials
Payment/banking account related data that may include a passcode (mobile code, on-line passcode, etc.) provided by the PSP (issuer) to its customer which is provided via his/her mobile device for identification/authentication purposes in the context of mobile payments.
MCP - Mobile Contactless Payment
A mobile device initiated payment where the cardholder and the merchant (and/or his/her equipment) are in the same location and communicate directly with each other using contactless radio technologies, such as NFC, for data transfer (also known as contactless payments).
TSM - Trusted Service manager
A trusted third party acting on behalf of the secure element issuers and/or the mobile payment/authentication application issuers in the case where a secure element is involved, or on behalf of the mobile wallet issuers.
MPP - Mobile Proximity Payment
A mobile payment where the communication between the mobile device and the Point of Interaction device takes place through a proximity technology (e.g., NFC, QR code, etc.).
MRP - Mobile Remote Payment
A payment initiated by a mobile device whereby the transaction is conducted over a mobile telecommunication network (e.g., GSM, mobile internet, etc.) and which can be made independently from the payer’s location (and/or his/her equipment).
NFC - Near Field Communication
A contactless protocol specified by ISO/IEC 18092.
Payment Gateway
A service operated by a beneficiary’s PSP or a trusted third party that manages the authorisation of payments for merchants.
It facilitates the transfer of information between the payment portal (such as a website or mobile device) and the beneficiary’s PSP.
Payment Scheme
A technical and commercial arrangement set up to serve one or more payment systems and which provides the organisational, legal and operational framework rules necessary for the payment services marketed (e.g. card scheme, e-payment scheme, …).
MPOS
The usage of a (consumer) mobile device to facilitate payments and enable acceptance of payment instruments.
Mobile Wallet Issuer
The service provider that issues mobile wallet functionalities to the customer (consumer or merchant).
Mobile Wallet Passcode
A code entered by the consumer/payer via his/her mobile device that may be required to activate a mobile wallet.
Payment Gateway
A service operated by a beneficiary’s PSP or a trusted third party that manages the authorisation of payments for merchants.
It facilitates the transfer of information between the payment portal (such as a website or mobile device) and the beneficiary’s PSP.
Mobile Wallet Gateway
A service operated by the mobile wallet issuer or a trusted third party acting on its behalf, which establishes for mobile transactions a link between the consumer/payer and its mobile wallet and between the mobile wallet and the payment gateways.
During the payment transaction, it allows the payment gateway to receive authentication data directly from the mobile wallet.
For life cycle management, it establishes a link between the mobile wallet and the mobile wallet issuer to download credentials, payment and/or authentication applications from the PSP.
1 comment:
I am not sure where you are getting your information, but good topic. I needs to spend some time learning more or understanding more. Thanks for magnificent info I was looking for this info for my mission.mobile payment processing
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