Saturday, June 28, 2008

Mobile payment systems in Malaysia : Its potentials and consumers' adoption strategies

What is Mobile Payment System??
It is a point of sale payment made through a mobile device.

What is Mobile Money(MMWallet)…??
It is an example of mobile payment system in Malaysia. Mobile Money is a PIN-based Mobile Payment Solution designed by Mobile Money International Sdn Bhd to address the limitations and bottlenecks created by cash, cheques and credit cards. It unlocks the power of the mobile phone to make payments, allowing registered users to pay for goods and services at anytime, anywhere using only a mobile phone coupled with a 6-digit security PIN (Personal Identification Number) via SMS (Short Messaging Service). This gives the freedom to shoppers to buy products online and pay the merchant using his/her mobile phone without being physically present at the store.


  • Sell to Anyone, Anywhere at Any time - The merchant can now sell to people across town, across the country and take payment around the clock, which is not possible with current payment systems. Customers will only need to enter their mobile phone during checkout from merchant e-commerce website.
  • No Minimum Monthly Transaction, No Rental Fee, No Merchant Account Required - Release yourself from the pressure of hitting the minimum monthly transaction amount to waive the rental fee, which typically runs at RM150 or more per month.
  • Safe and Secure - With Mobile Money, merchants do not have to be concern of cash or cheques or credit card handling problems or fraud.
  • Low Signup Fees - Only RM100 for Retailers or RM300 for Corporate, which chargeable after the first 10 transactions. This is hard to beat by any standard!
  • Get Paid Super Fast - Super fast settlement in T+2 Days. Compared to other payments systems, Mobile Money guarantees that merchants are paid in 2 working days.

Ways to encourage customer in adoption of mobile payment system…
Usually, people always need to go to the specific destination to clear all their bill payment. But how if they nit to clear different bills at different places? It may be will our 1 whole morning to run from here to there to finish all our transaction. But then now by having the mobile payment system, people can forget the traditional way to clear up all the bills payment. Either busy or free adults can just by pressing some keys to do the mobile banking or payment. It is so convenient to all the users especially in nowadays fast going market.


  1. Boss said...

    mobile payment still not so popular in malaysia.... see one day whether malaysia can have as what is presented

  2. e signature said...

    As you said that Mobile Payment System is sale payment made through a mobile device Customers will only need to enter their mobile phone during checkout from merchant e-commerce websitebut what about security .Is it secure over network