mobile payment

Cash Payment VS Mobile PaymentISE 323 – Project

• HASHEM ZAITOONI• BANDER ALQURASHI• OSAMA KHRAIZAH• ABDULHAMEED NASRULLAH

By : Group # 4

Outline

1- Brief Explanation2- Disadvantages of Cash Payment3- Advantages of Mobile Payment4- Process Mab for Both Methods5- Analysis of Both Methods6- Conclusion

Using Bluetooth, WI-FI, NFC or RFI, soon you will be able

to pay for your purchases by just passing your “ Smart Phone” over an

electronic device.

Mobile Phones will soon function as Credit Cards or ATM machine cards with additional exclusive features.

Cash Payment“Disadvantages”

You’ll miss the convenience of apps that automatically track your spending (no credit history).

Your purchases won’t be covered by additional consumer protection from credit card companies.

You can’t get a refund for stolen cash (When you lose it, it's gone)

You're limited to the amount you have in your wallet.

It can get relatively bulky and heavy, especially when you get change in coins

Mobile Payment“Advantages”

It is a secure way to pay. Credit card information are not stored on smartphones directly but in the cloud

reduce theft risks of having cash on hand.

Increase speed of checking customers out

Save money on credit card fees payment process easier and less

complicated & customers can make payment anywhere at anytime

Process Map For Both Methods: (Press to Enlarge)

Cash Payment Mobile Payment

Analysis of Cash Payment

(Press to Enlarge)

Analysis ofMobile Payment(Press to Enlarge)

Findings:

• From Process Mab comparison, we noticed that the mobile payment method is more efficient in terms of activities and actions Taken

• From the RH\LH Activity Chart, it is obvious how cash payment is inefficient and time consuming (100 seconds compared to 27 seconds for mobile payment)

ConclusionMobile Payment is more efficient than cash payment and it is advised to implement it widely to increase efficiency and to reduce security risks