Mobile payment system in Malaysia is defined as collection of money from consumer using mobile handsets such as their mobile phone, Cellular telephone, Smart phone, Personal Digital Assistant (PDA) or any other devices. Besides that, mobile payment system also provide directly purchase or to authorize payment for goods and services. Nowadays, consumers can purchase any number of digital goods and physical goods through mobile payment system. For examples, ring tones, games, wallpaper for mobile phone and the booking cinema ticket and air ticket.
The potential of using this system is consumers no longer need to bring any cash or credit card while shopping or traveling. They just can easily using their mobile phone to make any payments. It is more convenient and secure for consumers compare to bring too much cash on hand. Other than that, the problems of settle every month billing payment such as electric bills, water bills, phone bills, internet bills can be eliminated by using mobile payment services. Consumers no need hassle to queue up for waiting so long just to pay such bills and can save their time. Besides that, mobile payment system also provides high security to assure the safety of data for the customer. All payment transaction is secured by a strong pin fraud protection patent and inability of hacking passwords. Based on all this potentials, consumers are built their confidence and satisfaction in mobile payment system. Therefore, increasing number of consumers tend to use this system in Malaysia.
Malaysia's m-payment market has developed more quickly and it will continue to grow as consumer’s confidence on mobile payment increased. For instances, The world's first contactless mobile payment service has been launched in Malaysia by included with Maxis Fast Tap as an integrated mobile payment service that uses near field communication (NFC) technology according to Malaysian mobile operator Maxis Communications (Maxis), together with partners Nokia, Visa, May bank and Touch ‘n Go. For consumers’ adoption strategies in Malaysia can be classified in four areas:
1. Educate public about mobile payments, how to use and introduce its functions (e.g. bill payment, mobile purchase)
Most of people using mobile payment system is to pay bills and download wallpapers, ring tones and mobile games using premium SMS transactional payment.
2. Enhance security and confidence to mobile users
Highly secure data or information for the payers and without disclosure their credit card information.
3. Collaborate with more banks and companies to widen the ability to pay via mobile at the same time it helps to increased customer’s satisfaction and confidence
The largest credit card payment system is visa which launches a universal system and signed with mobile giants. Mobile giant like Nokia launches this service in Nokia handset which allows customers to remote payment, person-to-person payments, and contact fewer payments.
4. Maintain customer’s loyalty
Reward to customers by giving gift or discount at certain level of purchasing and giving extra credit when they used mobile payment.
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1 comments:
Good and detailed work.
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