MHITS - Mobile Handset Initiated TransactionS

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mHITs (Mobile Handset Initiated TransactionS) is an Australia micropayment service which allows users to send and receive money via SMS. The company offers a person-to-person payment system that uses a mobile phone as the transaction device rather than an automatic teller or EFTPOS terminal. Users send and receive money via SMS text message and can make payments instantly between any Australian mobile phone.

Users can also make purchases from on-line merchants, pay parking fees and taxi fares. mHITs also offers a Point Of Sale (POS) terminal which allows the service to be used at retail points of sale, such as ordering a coffee or purchasing a magazine. As the SMS authorising payment can also include a message, users have discovered that the service can be utilised to pre-order products, such that they are ready for pickup upon arrival at the store.

mHITs utilises a prepaid model (identical in principle to pre-paid phone credit) to ensure that the customer has funds ready to use before authorising payment transactions. This model ensures that the customer will not continue incurring debt or overdraw fees as an mHITs account cannot be overdrawn. This model is based on the standard mobile wallet architecture used for payment systems in developing markets such as mPesa in Kenya.
Under the mHITs Australia SMS mobile wallet, users and merchants are required to register an account with mHITs to access the mHITs payment service. Transactions are possible between:
Individual users, for instance the payment of personal debts or a portion of a meal,
Users and POS Merchants, for instance the payment of coffee,
Users and Online Merchants, for instance the payment of mobile ringtones and games.
The platform also has the ability to be used for online or digital purchases.


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