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☆☆ Mobile payment (also referred to as mobile money, mobile money transfer, and mobile wallet) generally refer to payment services operated under financial regulation and performed from or via a mobile device. Instead of paying with cash, cheque, or credit cards, a consumer can use a mobile to pay for a wide range of services and digital or hard goods. Although the concept of using non-coin-based CURRENCY systems has a long history,[1] it is only in the 21st century that the technology to support such systems has become widely available.

Mobile payment is being adopted all over the world in different ways.[2][3] The first patent exclusively DEFINED "Mobile Payment System" was filed in 2000[4].

In developing countries mobile payment solutions have been deployed as a means of extending financial services to the community known as the "unbanked" or "underbanked", which is estimated to be as much as 50% of the world's adult population, according to Financial Access' 2009 Report "Half the World is Unbanked".[5] These payment networks are often used for micropayments.[6] The use of mobile payments in developing countries has attracted public and private funding by organizations such as the Bill & Melinda Gates FOUNDATION, United States Agency for International Development and Mercy Corps.

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