M-payment (mobile payment) is a point-of-sale or transaction of money payment made through a mobile device, such as a cellular telephone, a Smartphone, or a personal digital assistant (PDA) and other devices.Mobile payment systems can be used for purchasing music’s, ringtones, wallpaper and games (there are many of these type of service or product offered in Malaysia’s newspaper). Most Malaysian buys these ringtones and games via mobile payment, either via GPRS/WAP or SMS (premium SMS based transactional payments).
There are few types of mobile transaction can be made:
1. Premium SMS transaction
Premium SMS transactions are the most common in Malaysia, most mobile users download their wallpaper, music, ringtones and mobile games by buying them through SMS payment. SMS payment requires you to send a certain code to certain number to confirm you want to buy those products.
2. WAP (mobile web)
WAP payment is similar to SMS, you are required to select product you want from the web and a confirmation message will be displayed to you with the details of product before u can confirm it.
3. Mobile payment providers
2. WAP (mobile web)
WAP payment is similar to SMS, you are required to select product you want from the web and a confirmation message will be displayed to you with the details of product before u can confirm it.
3. Mobile payment providers
Mobile payment provider is different they uses SMS and Web, it helps to extend the ability of mobile payment. There are few mobile payment providers in Malaysia, such as Mobile Money (http://mobile-money.com.my/index.html) who provides variety of products and services. By registering an account with mobile payment provider, you can top up your credit to them and use it to purchase products or services offered by them.
Mobile Money offers products such as food and beverages, car accessories and personal care products which can be viewed from their website. They also offer services such as buying or paying broadband bills (Steamy) by SMS the code of product to them.
Potentials:
Market still at developing stage, many new users enter into this market and enjoy the services provided by the Maxis, Digi, Celcom, U Mobile and others smaller service provider.
Many mobile phone users, the market is large as mobile phones become a need to all of us in nowadays. Even a primary school student also have a hand phone on his or her hand and this is the market that should grabbed by the service provider.
Low competition, the competition level still is low as the most people still blur on how to operate a firm that running mobile payments systems. This due to this market still in growth stage and more service provider needed to become a mature market.
Mobile Money offers products such as food and beverages, car accessories and personal care products which can be viewed from their website. They also offer services such as buying or paying broadband bills (Steamy) by SMS the code of product to them.
Potentials:
Market still at developing stage, many new users enter into this market and enjoy the services provided by the Maxis, Digi, Celcom, U Mobile and others smaller service provider.
Many mobile phone users, the market is large as mobile phones become a need to all of us in nowadays. Even a primary school student also have a hand phone on his or her hand and this is the market that should grabbed by the service provider.
Low competition, the competition level still is low as the most people still blur on how to operate a firm that running mobile payments systems. This due to this market still in growth stage and more service provider needed to become a mature market.
Consumer’s Adoption Strategies:
Educate consumers about mobile payments, how to use and introduce its functions (e.g. bill payment, mobile purchase).
Enhance security and confidence to mobile users .
Collaborate with more banks and companies to widen the ability to pay via mobile at the same time it helps to increased customer’s satisfaction and confidence.
Maintain customer’s loyalty.
Reference addresses:
http://searchmobilecomputing.techtarget.com/sDefinition/0,,sid40_gci211763,00.html
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