Mobile banking (also known as M-Banking, mbanking, SMS Banking) is a term used for performing balance checks, account

transactions, payments, credit applications and other banking transactions through a mobile device such as a mobile phone or Personal Digital Assistant (PDA). The earliest mobile banking services were offered over SMS. With the introduction of the first primitive smart phones with WAP support enabling the use of the mobile web in 1999, the first European banks [1] started to offer mobile banking on this platform to their customers . Mobile banking has until recently (2010) most often been performed via SMS or the Mobile Web. Apple's initial success with iPhone and the rapid growth of phones based on Google's Android (operating system) have led to increasing use of special client programs, called apps, downloaded to the mobile device

Mobile financial services, also referred to as mobile money, mobile payment, mobile banking, mobile money transfer and mobile wallet generally refer to payment services operated under financial regulation and performe from or via a mobile device. Although financial institutions and credit card companies have implemented solutions that provide mobile access to their services, in 2011, a number of mobile communication companies, such as mobile network operators, major telecommunications [2][3] infrastructure and handset multinationals such as Ericsson and Internet companies such [4] as Google announced their entrance to mobile payments. Mobile payment is an alternative payment method. Instead of paying with cash, cheque or credit cards, a consumer can use a mobile phone to pay for a wide range of services and digital or hard goods such as: Music, videos, ringtones, online game subscription or items, wallpapers and other digital goods. Transportation fare (bus, subway or train), parking meters and other services Books, magazines, tickets and other hard goods.
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There are four primary models for mobile payments: The term broadband refers to a telecommunications signal or device of greater bandwidth, in some sense, than another standard or usual signal or device (and the broader the band, the greater the capacity for traffic). Different criteria for "broad" have been applied in different contexts and at different times. Its origin is in physics, acoustics and radio systems engineering, where it had been used with a meaning similar [1][2] to wideband. However, the term became popularized through the 1990s as a vague marketing term for Internet access. Premium SMS based transactional payments Direct Mobile Billing Mobile web payments (WAP) Contactless NFC (Near Field Communication)