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Mobile Payments

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ALSO CALLED: Micropayments, Wireless Payments, mPayments, Proximity Payments, m-Payments
DEFINITION: M-payment (mobile payment) is a point-of-sale payment made through a mobile device, such as a cellular telephone, a smartphone, or a personal digital assistant (PDA). Using m-payment, a person with a wireless device could pay for items in a store or settle a restaurant bill without interacting with any staff member. So, for example, if a restaurant patron wanted to pay quickly and leave the restaurant  … 

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