Exploring the Key Challenges: Adaptability, Sustainability, Interoperability and Security to M-payment

Any payment which uses mobile device as payment method is called M-payment whether it is proximity or remote and online or point of sale. Since it has been identified that mobile phone is everywhere and everpresent essential consumer device, and could be used for payment offline or online, Mobile payment has been hyped significantly. However early market adoption is facing some challenges and in need of the unanimous effort of all key players (manufacturers, mobile operators, merchants and customers) of value chain in order to accept mobile payment method and achieve standard and sustainable business model. Achieving one business model is important for user convenience and reachability, resulting in increased market opportunities.