Preview

Project Proposal

Satisfactory Essays
Open Document
Open Document
470 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Project Proposal
TERM PROJECT REPORT
SUBJECT: NEXTAP WIRELESS PAYMENTS
“White Chocolate”
.....................................................

1. EXECUTIVE SUMMARY

The Nextap Wireless Payments project dubbed “White Chocolate” is a mobile commerce solution that provides a comprehensive mobile payment system for commercial laundry services. It is a white label system involving three components: the White Chocolate App for Smartphones made for the paying customers, the White Chocolate Terminal for accepting the payment, and the White Chocolate Tool which manages customer accounts and provides overall business logic the entire system.

This report addresses the White Chocolate App interface and how it will coincide with the White Chocolate Payment Terminal. Some numbers to consider in the history of payment exchange alternatives.

Background: Over the last few decades new payment technologies have emerged to provide consumers a variety of alternatives to cash or paper based transactions. For example, purchasing products or services can now be conducted by way of credit or debit cards, wired, or online payments.
In recent years, technology has allowed monetary exchanges via mobile handsets and the term for this activity has been coined as Mobile Commerce.

The Nextap Wireless Payments project dubbed “White Chocolate” is a mobile commerce solution that provides a comprehensive mobile payment system for commercial laundry services. is a white label system involving three components: the White Chocolate App for Smartphones made for the paying customers, the White Chocolate Terminal for accepting the payment, and the EzPay Web Tool which manages customer accounts and provides overall business logic the entire system.

Mobile Commerce can occur in a variety of forms, some examples include users viewing their banking data and transfer funds via (Short Messaging Services) SMS, purchasing products via text message codes

You May Also Find These Documents Helpful

  • Powerful Essays

    Advanced technology in electronic payment system allows money be transformed from traditional currency to newer forms including credit card, debit cards, electronic cheque, and electronic transactions using computing and communications devices. All kinds of secure…

    • 3130 Words
    • 10 Pages
    Powerful Essays
  • Good Essays

    Dexit Analysis

    • 1112 Words
    • 5 Pages

    Product provides a fast convenient method of payment that rivals cash typically used for small transactions.…

    • 1112 Words
    • 5 Pages
    Good Essays
  • Good Essays

    It/205 Week 5 Checkpoint

    • 593 Words
    • 3 Pages

    There are many different types of payment systems, but the four major ones are Online Credit Card Payment System, Online Electronic Cash System, Electronic Check System and Smart Cards based Electronic Payment System. The key advantages to these systems vary from privacy, integrity, compatibility, good transaction efficiency, acceptability, convenience, mobility, low financial risk and anonymity, compared to the traditional method of payment systems. There are some feared concerns with the credit card system such as lack of authentication, repudiation of charges and credit card frauds, and also having to reveal credit information at…

    • 593 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Mobile payment generally refers to payment services managed or executed using mobile devices. The demand for mobile credit card management has accelerated rapidly. The mobile payment industry is expected to collect over $171.5 billion in transactions this year, a 60% rise from 2011. The overall industry players can be broken into three separate categories based on focus: on-line payment services, digital wallet consolidation, and mobile point-of-sale (POS) credit card processing.…

    • 3598 Words
    • 15 Pages
    Powerful Essays
  • Good Essays

    An organization of this size must rely on numerous levels of information technology that is constantly changing. Commonly referred to in the past century as the cash register, the point-of-sale systems now can receive payment from credit or debit cards from smart-phones. Millions of transactions are conducted daily from various types of point-of-sale systems; all interact with the customers and exchange payment. The corporation is continually seeking to improve and advance this process.…

    • 1301 Words
    • 6 Pages
    Good Essays
  • Satisfactory Essays

    BOA’s entrance into local mobile payment and person-to-person P2P mobile shopping market (tap a large and growing market that currently lacks the regulation of banks and “added security”.…

    • 486 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    After researching several journals and articles, it is obvious at this point that there is no standard definition of the term “Mobile Commerce.” Many authors and writers have coined phrases and come up with definitions that are similar to each other; the general idea is similar but the words in the different definitions vary somewhat. However, one acceptable definition is used and this comes from Liang and Wei (2004), “M-Commerce generally refers to the use of wireless devices (particularly mobile phones) to conduct electronic business transactions, such as product ordering, fund transfers, and stock trading” (p. 7).…

    • 2303 Words
    • 10 Pages
    Powerful Essays
  • Good Essays

    Online Marketplace

    • 3324 Words
    • 14 Pages

    The online payment marketplace is experiencing an explosion of innovative ideas, plans, and announcements, which one commentator has likened to a “goat rodeo”, a chaotic situation in which powerful players with different agendas compete with one another for public acceptance, and above all, huge potential revenues. Others liken the payment marketplace to a battle among the four platform titans Apple, Google, Facebook, and Amazon. Each of these titans have their own versions of a future payment system that challenges the other players. And let’s not forget PayPal, the reigning power in alternative online payment, or the credit card companies who process over 70% of online payments, or the telecommunication wireless carriers Verizon and AT&T who make it all happen. All of these players are also competing for a share of the online payment stream. They all want to help us spend money, for a fee. The continuing double-digit growth of e-commerce is certainly one factor driving market participants, but a more important factors is the emergence of the mobile platform of smartphone and tablets that opens the door for new firms to enter the online payment marketplace based on newer technologies and control of the mobile platform itself.…

    • 3324 Words
    • 14 Pages
    Good Essays
  • Satisfactory Essays

    Mobile Payment in China: 2013 Edition is the sixth and latest edition of our most popular report. Simply put, it is the most up-to-date and comprehensive study available on China’s mobile payment sector today. The report focuses on the top issues for m-payment in China in 2013: we profile all of the companies to have received mobile payment licenses up until now, discuss emerging trends, and forecast important market changes to look out for in the coming years.…

    • 290 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    The m-commerce (MC) is an evolving, dynamic, unique and rapidly changing business opportunity with its own characteristics and concept (Lindsay, 2000). Many industry experts believe that m-commerce is a sleeping giant whose time has yet to come (Buhan, 2002). E-commerce benefited many organizations by reducing supplier cost and increasing profit. E-commerce is used to describe transactions that take place on-line where the buyer and seller are remote from each other (Andrews, 2001). M-commerce definition is similar to e-commerce, but the term is usually applied to the emerging transaction activity in mobile network. However, MC is not an extension of e-commerce and has a different infrastructure, equipment, and application than e-commerce (EC). The key differences between MC and EC are the technology they use, the nature of service they provide, and the business model they represent (Zhang, 2003). MC presents a cost effective and efficient way to provide seamless end-to-end connectivity and ubiquitous access in a market where demands on mobile Internet have grown rapidly (Mobilocity, 2000). M-commerce predicted to generate billions of dollars in revenue in upcoming years (Dholakia, 2003). There are similarities between EC and MC. M-commerce and e-commerce are similar in that both are an economy systems where firms and consumers are aided by computers and networking technologies that enable a new market (Clarke, 2002). Mobile implies portability and refers to devices that can communicate, transact and inform by use of voice, text, data, and video (Gribbins, 2003). These communication devices include smart phone, PDA, laptop, GPS and mobile payment (m-payment) systems. Trading, banking, shopping, bill payments, and other services are examples of these applications that consumers can use their mobile devices, from anywhere or…

    • 2376 Words
    • 10 Pages
    Powerful Essays
  • Powerful Essays

    Mobile phones are no longer a communication device, but can be used for several other purposes including executing business operations. After internet banking, it has added another dimension to banking by enabling any kind of banking transactions like payments, balance inquiry and transfer of funds, just by using your mobile phone. Banking transactions over the mobile phone are usually performed either by sending a SMS to the bank or by using mobile internet. When you send a SMS requesting a financial transaction, it travels to the SMS center of your cellular service provider and from there it goes to the bank's system. Then, you receive the response that is sent by the bank via the service provider, all within a few seconds.…

    • 2028 Words
    • 9 Pages
    Powerful Essays
  • Powerful Essays

    The scope of our project “user evaluation techniques” will mainly cover mobile payment method for Internet, mobile and propinquity transactions. It will focus on prototype implementation of the proposed/selected mobile payment mode. With the help of existing payment systems, our project will recommend a framework for future mobile payment system infrastructures, covering the most familiar platform for basic practice-scenario in MP systems.…

    • 1190 Words
    • 5 Pages
    Powerful Essays
  • Powerful Essays

    With the newest generation of mobile device technology, a mobile phone can access to wide range of information trough internet browsing, watching video stream anytime anywhere, camera function that allowed recording and share the sweetest memories to others, different great online gaming experience, online chatting and more. People can do business trough mobile device, can even make transaction as well. With the excellent network services, all they need is just a single tap on the mobile device, and every thing is done.…

    • 2605 Words
    • 11 Pages
    Powerful Essays
  • Powerful Essays

    Effects of Mpesa

    • 11440 Words
    • 46 Pages

    Smart Card Alliance; Mobile Payments Update Vol. 2, Week 36, 21 August - 04 September 2008…

    • 11440 Words
    • 46 Pages
    Powerful Essays
  • Good Essays

    Mascara

    • 2411 Words
    • 10 Pages

    Mobile payment is being adopted all over the world in different ways [5][6]. Combined market for all types of mobile payments is expected to reach more than $600B globally by 2013,[7] which will be the double of the current figure,[8] while mobile payment market for goods and services, excluding contactless NFC transactions and money transfers, is expected to exceed $300B globally by 2013.[9]…

    • 2411 Words
    • 10 Pages
    Good Essays