Soon current payments methods like credit card,debit cards,sms mobile payments will become history. Accells and mChek showcased a revolutionary patent pending technology which can make contactless payments possible with the help of mobile phones. This solution uses a variant of Near Field Technology which is the most advanced technology for mobile payments.Using this solution users can make the payments at shopping malls, toll bridges, vending machines,parking etc with the help of mobile phones. This is most advanced solution as user don’t have to swipe a credit card and unlike the current RFID systems it can be used anywhere whereas RFID cards(toll cards) had limited scope. It also enables authentication making them much safer than credit cards and more versatile than RFID cards.
How it works*:
1. Users makes some purchase and then press Pay button* on their mobile and the nearby mID( mobile identification device) terminal will find the mobile device using near field GSM signaling.
2. The mID terminal will then send the request to the bank for authentication and payment ( this service will be enabled with the help of mChek SIM tool kit).
3. The bank authenticates the user and completes the required transaction.
4. User is notified about the payment.
This whole cycle is fully secure and user is aware of every step in the cycle building user confidence on the system.
Advantages of the solution:
1. There has been lot of talks about NFD( Near Field Detection) system but none could have been practically implemented as most of the proposals required changes in the hardware in Mobile phones and its not possible to change 4 billion Mobile at once.
This new payment system don’t require change in the Mobile devices and also no change is required in the banking system hence it can be deployed very easily and seem to have a great outlook ahead.
2. This solution will bring major changes in how payments are made as payments can be made anytime,anywhere and users dont have to worry about the security.
A mobile phone can provide the security which is not even available at the banks, Application including Biometric identification like retina scan are available for various smart phones like Iphone ,this biometric identification technique can be very easily integrated with mobile payment making it one of the most secure payment system.
Oops I went way ahead in Future, Nups future is now 
3. mCheck have a huge customer base in India and Srilanka and has partnerships with many service providers like Airtel,Indiatimes,Homeshop 18,Futurebazaar etc which gives them a huge consumer base and places where solution can be deployed easily. More than 25 million sim cards are already shipped with mChek applications and several banks have issued visa cards based on mCheck applications which provides them enough playground to roll their solutions.
It needs to be seen if the payment solution is able to prove itself in the practical environment. If the payment solution proves itself it will mark the begning of the new payment solution era.
*this is just an imagination, how it will actually work on mobile ie user interface can differ on actual system
Hi,
is this different than the current mchek payment system ? I have been using the mchek in its current form for last 1 yr .
This is the same mChek product on the consumer side.
A flash demo of the mChek/AcCells integration is below:
http://main.mchek.com/accells_demo/
It is different from what mcheck was used to offer but yes now this is what mcheck is offering.