ITWissen.info - Tech know how online

paybox

Paybox is a mobile phone-based digital payment system offered by Paybox.net AG that works as a collection system. Paybox works independently of mobile phone providers and is designed to transmit sensitive data in encrypted form.

Paybox itself is a control entity that acts between the merchant, the account at a financial institution and the buyer.

Payment via Paybox can only be made if the customer has set up a corresponding account and given Paybox a direct debit authorization. If the customer has selected the Paybox payment option when shopping online on the Internet, he gives his mobile phone number to the online store, which then establishes a secure data connection to Paybox and transmits the phone number. Via a return channel, Paybox establishes a data connection to the customer's cell phone and checks the purchase data, such as the amount. If these are ok, then the amount is collected by direct debit from the financial institution and transferred to the online store.

Informations:
Englisch: paybox
Updated at: 27.03.2013
#Words: 163
Links: digital payment system, access governance (AG), data, entity, account
Translations: DE
Sharing:    

All rights reserved DATACOM Buchverlag GmbH © 2022