Mobile payment systems in Malaysia: It's potentials and consumer's adoption strategies

Mobile payment which is widely known as M-payment is a type of payment method through mobile devices such as mobile phone, personal digital assistant (PDA) and smart phone. This payment method provides another alternative of making payment. Instead of paying using credit card, cheque and cash, M-payment is just the same which allow consumer to purchase hard and digital goods as well as services.

Basically, m-payment can be divided into 4 categories which are:

1. SMS based transactional payments- SMS based transactional payments just works by sending a short message to make payment and is charge through phone bills.

2. Direct mobile billing – This is actually a mobile billing option rather than using credit cards and pay pal to make purchases. Money will be deducted from the consumer’s mobile account once the authentication is made.

3. Mobile web payments (WAP) - This method can be said as paypal in the mobile. This is because it depends on wireless application protocol (WAP) to access to the internet instead of using PC.

4. Contactless near field communication (NFC) – This is something similar to smart tag which applies in Malaysia. The smart card will be pluck in to the mobile device and when purchasing, the customer will wave the device near the reader.

M-payment is highly potential to be implemented in Malaysia. Since Malaysian which with the age 18 and above owns a mobile phone, m-payment is likely to gain its popularity in the near future. The wish of many Malaysian to go out shopping securely without having thick wallet in their pockets will be granted if m-payment become a trend in the near future. Young Malaysian who are pursuing to have convenience and time saving purchases will most like supporting this m-payment method. Besides, m-payment is just at its developing stage; therefore the space of improvement is still very big in Malaysia. Moreover, there are more and more companies and merchants showing interest to implement m-payment to their business too.

To implement m-payment in Malaysia, few strategies are recommended. Firstly, the customers need to be educated on how to function m-payment. Secondly, the risk of using m-payment should be minimized and security measure should be implemented to enhance customers confident. Thirdly, the target group should be focus and youngster who are mostly mobile users. Lastly, to expose more people with this technology, it should be widely advertise and publicize to gain people awareness.


Related links:




Anonymous said...

Wish that m-payment will really get active in Malaysia soon...Since i'm a student, owning a credit card is impossible for m-payment may be handling for me...Hope that i can buy movie ticket via m-payment thoughout Malaysia cinema

Cindy said...

I hope tis wil soon popular in msia

Moon said...

wait for hundred years.

E-evoluzione said...

We shall wait and see then...Maybe there is miracle..u never know:p

Post a Comment