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Mobile payments is a mode of payment using mobile phones. Instead of using methods like cash, cheque, and credit card, a customer can use a mobile phone to transfer money or to pay for goods and services.
Postpaid service mobile phone typically requires two essential components in order to make the 'post-usage' model viable: Credit history/Contractual commitment. This is the basis on which the service provider is able to trust the customer with paying their bill when it is due and to have legal recourse in case of non-payment
A prepaid mobile device, also known as a pay-as-you-go (PAYG), pay-as-you-talk, pay and go, go-phone, or prepay, is a mobile device such as a phone for which credit is purchased in advance of service use. The purchased credit is used to pay for telecommunications services at the point the service is accessed or consumed.
A rechargeable calling card or a recharge card is a type of telephone card that the user can "recharge" or "top up" by adding money when the balance gets below a nominated amount. In reality, the rechargeable calling card is a specialised form of a prepaid or debit account.
Vodafone Idea, in acronym Vi, is an Indian telecommunications company, headquartered in Mumbai and Gandhinagar. [7] [8] [9] It is an all-India integrated GSM operator offering mobile telephony services.
The history of the prepaid mobile phones began in the 1990s when mobile phone operators sought to expand their market reach. Up until this point, mobile phone services were exclusively offered on a postpaid basis (contract-based), which excluded individuals with poor credit ratings and minors under the age of 18 (the typical age of contractual.)
National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.