Let us discuss the Evolution of Electronic Payments in the late 80s the payment are made through Videotex system. Secondly, in the year of 1994, the payments are done by Online Banking. Then in the year of 1997, the payments are made by WAP method. Now the payments are done by Smartphones.

The important types of Mobile Payments are

• mCommerce: Its a Mobile Internet browser
• mPayments: Its a Contactless payment
• mWallets: Its aims to replace the Wallet

Mobile Payment Models are

• Mobile apps
• SMS
• WEB
• Contactless
• USSD

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