Mobile proximity payments involve a special mobile phone equipped with an integrated chip or smart card,a specialized reader that recognizes the chip when the chip comes within a short distance of the reader,and a network for handling the payment.

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Mobile proximity payments rely on a mobile phone with an integrated chip or smart card, a reader that can recognize the chip when it comes into close proximity, and a payment network to handle the transaction.

Mobile Proximity Payments Involve a Special Mobile Phone Equipped with an Integrated