Mobile payments (also known as mobile web payments or WAP billing) is a collection of money from consumer via a mobile device such as their mobile phone, Smartphone, Personal Digital Assistant (PDA) or any other devices. With such application, it does brings advantages to th
e world of e-commerce and it’s growing steadily in M
alaysia as well. Some of examples of mobile payments available in Malaysia are Mobile BlueZone and Mobile Money. To read more about Mobile Money, click here.
Users just need to use a mobile device to pay for goods and services at 24-7.There is no need hustling around the payment counter.As a result, uers would be able to save more time.Let's discover more about Mobile Money.
Mobile Money is a PIN-based Mobile Payment Solution designed by Mobile Money International Sdn Bhd to address the limitations and bottlenecks created by cash, cheques and credit cards. It unlocks the power of the mobile phone to make payments, allowing registered users to p
ay for goods and services at anytime, anywhere using only a mobile phone coupled with a 6-digit security PIN (Personal Identification Number) via SMS (Short Messaging Service). This gives the freedom to shoppers to buy products online and pay the merchant using his/her mobile phone without being physically present at the store.
ay for goods and services at anytime, anywhere using only a mobile phone coupled with a 6-digit security PIN (Personal Identification Number) via SMS (Short Messaging Service). This gives the freedom to shoppers to buy products online and pay the merchant using his/her mobile phone without being physically present at the store.
When it comes to online selling, selecting a payment gateway is one of the major obstacles faced by the merchants in Malaysia. There are too few choices available, worse, none of these limited choices are cost effective. This problem has been addressed by Mobile Money, since it allows merchants to take online order without the need for online shopper to disclose their credit card information.
With the existence of this service,it will encourage more consumers to shop online. This will definitely be a great boon to the e-commerce industry in Malaysia. It will surely encourage more merchants to adopt online selling as an extra sales channel which complement perfectly with their offline sales channel to help them sell more of their goods and services.
Besides Mobile BlueZone and Mobile Money, many other comp
anies are also comin
g up with this concept to cater for their customers convenience. For example, Maxis,HGL Capital Berhad, CELCOM and many more. Maxis unveils mobile payment services news can be viewed here.
anies are also comin
g up with this concept to cater for their customers convenience. For example, Maxis,HGL Capital Berhad, CELCOM and many more. Maxis unveils mobile payment services news can be viewed here.Mobile payments services indeed have a vase of great potential and advantage. Consumers feel more comfortable with low-value transactions over such non-traditional means. Common applications such as p
ayment for
transportation, parking, restaurants, convenience stores, retail outlets, e-tickets. This helps especially when consumers are in need of cash but doesn’t have any in hand, therefore with mobile payments they do not need to even search for an ATM machine to withdraw the needed money for the payment.
ayment for
transportation, parking, restaurants, convenience stores, retail outlets, e-tickets. This helps especially when consumers are in need of cash but doesn’t have any in hand, therefore with mobile payments they do not need to even search for an ATM machine to withdraw the needed money for the payment.For visual explanation, click here!
Useful links:
1) Is Mobile Banking Really Reducing Poverty? Not Yet, We Argue
3) Nearly Half a Billion Mobile Financial Services Customers expected in 2013
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