E-Commerce

Mobile payment is the collection of money from a consumer via a mobile device such as their mobile phone, Smartphone, Personal Digital Assistant (PDA) or any devices. Mobile payment known as mobile web payment or WAP billing.

Mobile payment can be used to purchase any number of digital goods and physical goods liked ringtones, games and booking cinema ticket or air ticket. The mobile payment available in Malaysia are Telemoney and Mobile Money. There are four primary models for mobile payment which are premium sms based transactional payments, direct mobile billing, mobile web payments and Near Field Communication.

Mobile Payment System in Malaysia

In Malaysia, mobile money is recently services developing fast. This service is effective providing customers with admission or money off vouchers which can be unique coded or designed to allow viral spread. Malaysian can now enjoy a secure and convenient way to conduct mobile commerce using a GSM cellular phone.

Telemoney

The first mobile payment service via multi-channel access for Internet and wireless transaction Telemoney. So, everyone just need is a GSM phone and a telemoney personal identification number, connecting it to a credit card, debit card, stored value card, bank account or even the phone account.

Mobile Money

Mobile money is a PIN-based Mobile Payment Solution designed by MM International Sdn. Bhd. to address the limitation and bottlenecks created by cash, cheque and credit cards. It allow registered users to make payment at anytime and anywhere by using only a mobile phone coupled with a 6-digit security PIN via sms.

Potential of Mobile Payment System
Mobile payment system indeed have a great potential and advantages.

1. Consumers are more comfortable with low-value transaction over such non-traditional.
2. Low-value transaction such as payment for transportation, parking, restaurants, convenience store, retails outlets or e-tickets.
3. It helps consumers to solve the needed money for payment when they lack of cash and can't even search for an ATM machine.
4. It also has high adaptability and acceptability among consumers.
5. The wide use of mobile phone made mobile payment much easier to be adopted.

Consumers' Adoption Strategies
In Malaysia, most of company will

• Reward the consumers by giving gift at certain level of purchasing or giving redemption of reward.
• One of the strategies shall be adopted as well to maintain customers' loyalty.
• Certain service or good purchase will accumulated the points to redeem other extra bonus.
• Provide information and education for consumers about the mobile payment system, help them build confident among consumers by enhancing its system security.
• Collaborate with more banks and companies to widen the ability to pay via mobile.

The more information can find in the related links:
1. http://www.neowave.com.my/mobilemoney_overview.asp
2. http://www.zdnetasia.com/news/communications/0,39044192,39001884,00.htm
3. http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_894885c0-cb73c03a-
192d6040-bea9590f