Mobile Payment systems in Malaysia: Its potentials & Consumers’ Adoption Strategy
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 the world of e-commerce and it’s relatively growing in Malaysia as well. Some of examples of mobile payments available in Malaysia are mobileExec and Mobile Money. To read more about Mobile Money, click on this link.
Both are using the concept of making payment transactions just through a mobile device to pay for goods and services anytime without having cash on hand, cheques or even physically present a store.
Besides MobileExec and Mobile Money, many other companies are also coming 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 great potential and advantage. Consumers are more comfortable with low-value transactions over such non-traditional means. Common applications will include payment for transportation, parking, restaurants, convenience stores, retail outlets, e-tickets to name a few – typically for low-value items. 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 a further knowledge, you can view a video on the right corner at the E-Commerce Videos section on E-Payment Benefits to Owners and Managers.