Mobile Payment Systems In M'sia: potentials and strategies

Mobile Payment (M-payment).
M-Commerce is a new computer environment which design for workers who travel outside the boundaries of their organizations or anyone on the move. Salespersons are able to make proposals at customers’ office; a traveler could read and answer all of the day’s e-mails while on the road, one could work with the mobile devices as long as the battery is working.
What do you mean by Mobile Payment?

According to Wikipedia, Mobile payment (also referred to as mobile web payment or WAP billing) is the collection of money from a consumer via a mobile device such as their mobile phone, SmartPhone, Personal Digital Assistant (PDA) or other such device.
Mobile Payment in Malaysia.

Visa and Nokia have teamed up to release the world’s first credit card payment system in Malaysia which allows consumers to shop and pay using their mobile phones. Japan already has this kind of service a few years ago, which almost similar with the credit card payment. But the different they using phone credit to do transactions. The cash counter scans the code display on the phone screen and cash done. Refer back to topic, we also have PayPal launched PayPal mobile that lets people transfer money through their phones. Nokia phones will use the Visa Wave smart card technology that uses radio frequencies to eliminate the need to swipe credit card into a reader. During the trial period, 200 Visa Wave cardholders in Malaysia will be given a special Nokia phone that can be used for such payments. About 2,500 outlets nationwide ave Visa Wave readers.

Visa Wave is already available in Malaysia, Taiwan and South Korea and will be expanded to Japan and Southeast Asia this year.

Mobile Payment systems’ potentials
· To allow global organizations to access a far wider market, including peopla in previously hard-to-access locations.
· Shortcodes are false sense of security, and can be impersonated just like web sites.
· Digital transmissions fairly secure.
· Reduce cash payments and transaction costs
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Mobile Payment Challenges
· lack cohesive technology standards that can provide a universal mode of payment
· Security payment issue.
· Privacy issue.

Consumers’ adoption strategies
· Well much depends on consumer’s confidence about the M-payment
· Now consumer can check their flight time using their cell phones and even booking with cell phones. Why not implement m-payment in cell phone? Convenient.
· Cell phones is easy-to-bring communication device, it carries credit too. Instead of bring cash alone, using cell phone to pay is a creative way.
· Follow the trend, sooner or later the world will be seen pay using cell phones, it’s just a matter of time Malaysia implement it. Do they tax on M-payment?