Mobile payment system is a new and rapidly-adopting alternative payment method in certain country in Europe and Asia. It is a collection of money from a consumer by way of mobile device such as mobile phone, smartphone, Personal Digital Assistant (PDA) or other such device. Consumers are able to use such device to pay for wide range of services and digital or hard goods such as music, videos, transportation fare, books and tickets. Mobile payment system is convenient compare to payment by cash or check.
In Malaysia, mobile payment is just services developing speedy. Examples of mobile payments available in Malaysia are Mobile Money, and mobileExec. Both are using the mobile device to make payment transaction. Moreover, due to effectiveness and efficiency of mobile payment, certain company like HGL Capital Berhad, Maxis, and CELCOM start applies this concept of payment. The mobile channel can be effectively used as a self-funding and revenue generating medium. This service covers all mobile operators in Malaysia; it’s for prepaid and postpaid service billings.
Mobile payment services have a great potential and advantages. For example, the consumers dun have to carry money or credit card to make payment transaction in the event the transaction involve high price. Consumers are more comfortable and convenient with low-value transactions over mobile payment. Common applications will include payment for transportation, convenience stores, restaurants, e-tickets, retail outlets, and typically for low-value items. In the case where consumers do not have cash in hand, mobile payment is useful in which consumers do not need to look for an ATM machine to withdraw the payment.
In the perspective of consumers’ adoption strategies, gift or redemption of reward will be given by certain company at certain level of purchasing. Furthermore some of the company will provide extra credit to customers especially consumer from Hotlink user. With certain call and receive will accumulated the points to redeem air time or sms.
1 comments:
Mobile Money will definitely be a great boon to the e-commerce industry in Malaysia in future time.In order to pay using Mobile Money, a shopper must have either a savings, current or credit card account with participating bank (Hong Leong bank)
Post a Comment