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Monday, February 16, 2009 4:28 PM
• Mobile payment systems in Malaysia: Its potentials and consumers’ adoption strategies.

Mobile payment is new and rapidly-adopting alternative payment method – especially in Asia and Europe. Instead of paying with cash, check or credit cards, a consumer can use a mobile phone to pay for wide range of services and digital or hard goods such as music, videos, ringtones, books, products and etc.

Mobile transaction can be made by Premium SMS transaction. This is where the consumer sends a payment request via an SMS text message to a shortcode and a premium charge is applied to their phone bill. The merchant involved is informed of the payment success and can then release the paid for goods.


Another method of mobile transaction is Mobile web payments (WAP). This is where the consumer uses web pages displayed or additional application s/he downloaded and installed on his/her mobile phone to make a payment.


Beside this, mobile payments are one of the strategic tools to meet these objectives and achieve higher economic growth. Electronic payment increases operational efficiency and improves productivity levels through expedient payments and receipts of funds. Mobile payments would also provide the speed and convenience of making payments from any place or time. It also reduces costs through the reduction or redeployment of resources used for handling cash and cheques.

http://www.neowave.com.my/mobilemoney_overview.asp