Instant Secure Mobile Payment Scheme

We propose a new communication network that directly connects banks to their customers through mobile phones. Our scheme aims to fulfill the needs of all stakeholders, achieve a high level of security without sacrificing efficiency, and have a reliable infrastructure. It will eliminate new expenses, minimize the overheads on all stakeholders, and result in time savings in implementation and marketing. All bank services will become readily available anytime and anywhere; besides, it will enable individuals, point of sale, service provider, or any other entity to access their own bank accounts. It will also relieve users from the need to carry cash or credit cards since they will be able to pay bills, transfer money, receive payments, or make reservations by using their mobile phone in real time.