One of the few mobile payment systems in Malaysia is from the collaboration of Nokia and Visa whom jointly released the world's first credit card payment pilot system in Malaysia, allowing consumers to shop and pay using their mobile phones. It builds on the Visa Wave smart card technology that uses radio frequencies to eliminate the need to swipe credit card into a reader. Customers wave cards or phones in front of the reader to make payments. Prototype phone to be used in the Visa pilot project is embedded with a chip using the latest cryptography, security and smart card technologies, making it highly secure and difficult to counterfeit.
Besides that there is a mobile payment system that from Malaysia for Malaysians, namely Mobile Money. Mobile Money provides merchants and consumers with mobile payment and mobile commerce platform. It has a lot of product and services, for example paying bills, topping up a whole range of prepaid, and shopping with your mobile phone. MM Mobile Payment platform allows everyone to pay anyone, at anytime from anywhere with just one SMS. It also allows one to receive money from anyone, from anywhere, at anytime.
In order for these mobile payment systems to be successful, consumers need to be exposed to the benefits of using such services. For example the benefits of not carrying cash around anymore if the consumers practice such systems. Besides that, advertising should be more extensive in order to introduce these systems to more people. Mobile payment system has great potential for growth as it will eliminates the use for cash or reduce the use of cash in the future.
1 comments:
that's a great service! next time just need to bring hp we can pay everything with it.
However,pros always come with cons. There are several security issues need to take into concern while using this service.
Anyway, if anyone using this service must remember don't simply borrow your phone to others!hahaha
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