Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Mobile phone payment
A payment method, also called mobile payment, m-payment, handypay, webbilling or shortpay. This refers to all types of payment that are processed via cell phone, e.g. payment via telephone charges.
Mobile Payment und Internet
With cell phone payments, users pay for the content they want via their cell phone bill or prepaid credit. You are asked to enter your mobile number on the relevant Internet platform. A PIN number is then sent to the user by SMS. If you enter this PIN on the Internet, you conclude a contract with the provider. Costs are then charged via the cell phone for using the Internet site. Either you pay a one-off amount, or you take out a subscription and pay over the long term.
Contactless pay
Since around the mid-1990s, the first efforts have been made to use cell phones for any payment transactions. In the meantime, there are a large number of apps that enable contactless payment, such as Deutsche Bank Mobile, Apple Pay, Mobiles Bezahlen, Postbank Finanzassistent and others.