YoYo…New generation’s environment!!!
Nowadays, telecommunications industry is experiencing rapid growth on a global scale. One of the greatest growth areas is “Mobile Telecommunications”. Mobile telecommunication is a technology that allows the users to be connected by using the mobile devices. For example, using mobile phone services such as Mobile Payment Systems will make life easier for everyone!
What are mobile payment systems?
Mobile payment systems have been developed to facilitate purchasing of products, services, and content in mobile and electronic commerce and at physical points of sale. For example, mobile payment allows you to make payments to selected merchants by using your mobile phones.
Mobile banking, mobile money transfer, mobile trading, mobile commerce, advertising and marketing, location based advertising and mapping services, and information and news services are some of the areas to lead significant growth in the mobile payments market.
Which companies have launched mobile payment systems in Malaysia?
In Malaysia, there are some companies have already launched mobile payment systems such as Celcom, Maxis, Digi, TMtouch, Maybank, Hong Leong Bank, Mobile Money International Sdn Bhd, and others.
Potential of mobile phones to make the transformation...
According to the study of Bank Negara Malaysia, mobile telecommunication networks provide a mobile electronic payment channel when mobile phones are in the hands of most Malaysians, with 88% of the Malaysian population subscribing to mobile phone services.
The high penetration rate states that mobile phone network is an increasingly popular channel for Malaysians to perform a plethora of activities beyond voice communication, encompassing all forms of digital communication, commerce, banking and payments. Indeed, mobile payments via text messaging have the potential to grow currently in Malaysia.
Consumers’ adoption strategies for using mobile payment systems....jpg)
**Security: Mobile payment systems provide an alternate payment mechanism that would not only lower cost of transactions but also give a security to the users.
**Low transaction cost: Mobile payment systems provide an efficient and cost-effective method of delivering financial services in the remote areas.
**Convenience: Mobile payment systems provide high-speed transaction and convenience for users as users do not need to carry any cash.
**Easy to use: Mobile payment systems are easy to use. Transaction can be done by just sending a SMS.
Latest news for mobile payment systems in Malaysia...
In April 9, 2009, contactless mobile payment service utilizing Near Field Communication (NFC) technology was introduced by Visa, Maybank, Maxis and Touch n' Go.
Relevant News Website:
Maxis FastTap: The World’s first multi-payment NFC mobile service
World’s first contactless mobile payment system’ launches in Malaysia
~For more information, please refer to following websites
- Definition of mobile payment system
- Example of mobile payment system in Malaysia: Maybank
- Mobile Money (MM Wallet) Overview
- How Mobile Money Works?
- Mobile Payment Solutions - Globally and in Pakistan
Post a Comment