Mobile Payment System in Malaysia

Mobile payment system is an alternative way of payment method through a mobile device. It is a secure and convenient payment method and can be used for a wide range of digital and physical products or services such as pay for movie or airlines tickets, purchasing music, ring tones and so on. Peoples do no longer have to travel with a lot of cash or even a credit card; they are just have to remember to put their hand phone in their pockets. In year 2001, Malaysia was introducing the mobile payment system, TeleMoney. Nowadays, everyone can enjoy the mobile commerce by using GSM cellular phone and it is service free.

Potentials
The mobile payment system is still fresh for most Malaysians. However, we can see that it is developing and growing fast in our country. This is because the mobile phones users are keep on increasing and this is the right time for mobile payment developers. The benefits of mobile payment system that increasing users’ confident as below:

 Secure and safe. It is definitely more secured and safe comparing to credit cards payment. The mobile payment system assures the safety of user’s data by a strong pin fraud protection.
 Convenient. For example, you just have to SMS to buy a movie ticket! There is no rushing, no parking fee, no queuing!
 User friendly. Once you register as a user, you can make your payment just by your mobile phone!

Consumer’s adoption strategies

 Enhance security and confident to mobile users
 Educated public about mobile payment systems, introducing the benefits.
 Maintain customers’ loyalty and satisfaction.
 Collaborate with more banks and companies to expand the market.



Related links
1) http://mobile-money.com.my/index.html
2) http://www.myeasypayment.com/
3) http://en.wikipedia.org/wiki/Mobile_payment