#USSD , E-Wallet, PoS

 

USSD

 It stands for Unstructured Supplementary Service data it is a global System for Mobile (GSM) technologies that accustomed sends text between a mobile and a program within the network.this payment service *99# works on USSD channel.

 This service allows mobile banking transactions using basic feature mobile phone, there is no need of internet data facility to use USSD based Mobile Banking. USSD transactions occur through out the session solely. *99#  service has been launched to take the banking services to every common man across the country. 

*99# service is currently offered more than 50 country and in different different 10 languages.

Primary Requirements

• Provide KYC to open a new account
• Linked Mobile no with bank account
• Register for USSD/Mobile Banking
• Get MMID(Mobile Money Identifier)
• Get MPIN(Mobile Pin)

Requirement for transaction

• MMID
• MPIN and Dial *99#
• Registered Phone

E-Wallet

It is generally referred to as a digital wallet. And it can be a secure place that contains one or more currency purses. Your shopper can fund a eWallet in several different ways. Once funded, shopper can use eWallet online to buy goods or services.

A shopper should register with the supplier , and should need to complete a full KYC method before they are allow to use a ewallet.it could be a variety of prepaid account in which a user will store his/her cash for any future online dealing. E-Wallet has 2 elements software package and information.

• The software package elements stores personal data and provide security and cryptography of the information .
• The information element could be an info of details provided by the user which incorporates their names, shipping address, payment methodology , quantity to be paid  etc.

Some E-Wallet providers

• Paytm
• Mobikwik
• Citrus Wallet
• itzCash
• SBI Buddy
• HDFC PayZapp

PoS(Point of Sale)

It is the place where all the retail transactions are completed. It is the point at which a customer makes payment to the merchant in the exchange for goods and services.Merchant generally use a POS system to complete sales dealing. 

It is combination of PoS hardware and PoS software At the point of sale , the merchant would prepare an invoice for the customer (which may be a cash register printout) or otherwise calculate the amount owned by the customer and provide options for the customer to make payment.

After receiving payment, the merchant will also normally issue a receipt for the transaction . mostly the receipt is printed.

PoS Requirement

• Receipt Printer
• BCR(Bar Code Reader)
• Micro ATM
• Monitor/Tablet