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An SMS payment system doesn't seem possible. Just end-to-end encryption for SMS will be much be bigger than a Facebook app. Without encryption consumers will be
by sysreader2016 10y ago
An SMS payment system doesn't seem possible. Just end-to-end encryption for SMS will be much be bigger than a Facebook app. Without encryption consumers will be conducting wire transfers over cleartext to the merchant.
- ChuckMcM 10y agoHere is a good summary of SMS payments : http://www.mobiletransaction.org/what-are-sms-payments/ http://www.mobiletransaction.org/what-are-sms-payments/ They are used a lot in countries with dysfunctional banking systems. They aren't encrypted, they use the fact that you're sending a text from your phone to validate that it's you.