First of all, let me explain about mobile payment system. Mobile payment refers to a payment system that involved mobile phone. It is an alternative way of payment method and it has adopted in many countries especially Asia and Europe. Mobile payment system is a secure and convenient way to let users to pay for tickets (airlines or cinema), banking or even pay on music or books.
Malaysia's first mobile payment was launched in 2001. Malaysians can now enjoy a mobile commerce by using GSM cellular phone. TeleMoney where it is the first mobile payment system via multi-channel access for Internet and wireless transactions in Malaysia. It is a service free of banks and telco dependence. A credit card or debit card holder or user can register for this service. The website of http://www.mobile-money.com is a website that provides mobile payment system in Malaysia.
Such mobile payment system has brought potentials to the consumers or users, the potentials are as following:
- Ubiquity - With mobile payment, consumers can make payment anytime, anywhere by just using their mobile phone. Hence, it is very convenient to the consumers. For example, users can reload their mobile phone credit by using mobile phone, so users do not need to go to the top up centre purposely.
- Save time - By using mobile payment, consumers actually can save a lot of time where consumers do not need to line up at the counter to make payment, especially in the bank, we usually have to wait so long just to make a payment or make a small transaction, it is really wasting time. However, mobile payment can help to solve this problem.
- Secure & Safe - Users do not need to worry about the safety while using mobile payment because it is secure and safe. Mobile payment will assure the safety of data for the users and it will keep the data of the users private and confidential. Furthermore, the Mobile Money Payment System conforms to the stringent requirements set by Bank Negara Malaysia and the participating banks. Besides that, the payment is secured by a strong pin fraud protection.
- Easy to use - Mobile payment is easy to use where users do not need to go through too much of complicated steps to make payment. Users just need to register themselves in website, then they can easily enjoy mobile payment through their cell phone.
Consumers' adoption strategies are as follow:
- Educate consumers about mobile payments, explain to them about how to use mobile payment and how it is function on billing or mobile purchase.
- Enhance security, confidence and trust to users.
- Collaborate with more banks, enterprises and companies to widen the ability of users to pay through mobile payment.
- Maintain customers' loyalty and customers satisfaction.
By Simone
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