Enabling Micropayments Using Cell – Times Of India
公開日:2022/06/08 / 最終更新日:2022/06/08
It came up with the idea of MMID, which serves three functions: MMID supplies the parity bits so that a transaction is rejected in case a buyer enters the payee’s cellular number wrongly; in case a buyer has a number of bank accounts mapped to her phone, the MMID would be totally different for each of those accounts; lastly , the MMID helps in figuring out the destination bank when a transaction is carried out. Nationwide Payment Corporation of India (NPCI) joined the hassle and commissioned a switch to perform transactions and settlement between banks. The ecosystem was ready.
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