1. Mobile payment systems in Malaysia: Its potentials and consumers’ adoption strategies.

Mobile payment is a payment method which is still developing with the growth of WiFi and 3G cellular phone systems. Instead of paying with cash, check or credit card, a customer can use the mobile phone, Smart phone or Personal Digital Assistance to pay for several services. There were quite a number of mobile payments that available in Malaysia such as moneyMe, Mobile money and etc.

Mobile payment has brings some advantages to the consumers and has the potential to growth in Malaysia. Mobile payment has the ability to pay the services without having to carry cash or line up in a long queue or present in the store.

There are many company has also coming up with the same concept and even with more functional such as Near Field Communication(NFC) technology was introduce by Visa, Maybank, Maxis, Touch n’ Go. This contactless technology has allows the users to pay for their goods and services by waving their phone over an electronic reader. Visa has already adopted this technology in its payWave contactless credit or debit cards.

Other than the potentiality of Mobile Payment, the consumers will also comfortable with the advantage of mobile payment. Mobile payment is fast and easy because it is ubiquitous, the consumers can pay for the services anytime or anywhere. Besides that, the mobile payment paired with reliability and safety as the payer and payee can authenticate and record the transaction.For moneyMe, the records are controlled with a personal PIN and the account is not stored on the mobile phone, so if the customers lose the phone, the moneyMe will freeze the account until further notice.

Mobile payment is the convenient technology that makes life easy. Consumers can pay for the goods and services anytime, anywhere or to anyone. By the way, this will reduce the risk of theft also.

For more information about mobile payment, can visit the following links :
http://www.mobile-money.com/index.html
http://www.com2u.com.my/transaction.html