Comparative Study Among New Payment Systems and New Future Trends in Mobile Payments

Abstract

Over the last few years, the payment systems used in business activities have been altered by recent technological developments. Increasingly, more consumers use their mobile phones to do their purchases. Currently, sales through smartphones are an indicator of the growth potential that these new trade and payment methods have in the future society. In this chapter, the authors carry out a theoretical review of the different payment systems, from the most traditional ones to the new payment systems used on the Internet. They also analyze the different security protocols that are currently operational, with the aim of improving consumers’ trust. In this literature review, the authors extract a few implications and recommendations to management of M-Payment-based businesses.