Week 5: Mobile Payment System in Malaysia

Mobile Payment System is getting more and more popular in Malaysia as the frequent of using mobile phone is increasing in this technology world. Mobile payment system is the system that people make the money payment transaction such as utility bills, credit card bills, and loan repayments through a mobile device. The most famous mobile payment system in Malaysia is MobileMoneyWallet.

For more information, link to: http://www.mobile-money.com/

Mobile payment system becomes a practical means for merchants since users will only need to enter their mobile phone during checkout from merchant e-commerce website.

Encouragement of consumers to adopt this payment system:

1. Mobile Money helps to reduce the bottlenecks that created by cash, cheques and credit cards. Users are only using mobile phone to make payments, allowing registered users to pay for goods and services at anytime, anywhere via SMS.
   
2. This gives benefit to users to buy products online and pay the merchant using their mobile phone without being physically present at the store.


3. Mobile payment system is user friendly, it is safe and secure. User do not need to worry about the cheque or credit card handling problem and fraud, the system will conforms to the stringent requirement set by participating bank.


4. Mobile payment system also help user to avoid the trouble for long queues and looking for car parks. User can enjoy the super fast payment process by just make their transaction via SMS, website, or point-of-sale system. It helps user save up a lot of time.


5. There are no minimum monthly transactions or no any rental fees required. Users only need to pay very low transaction fee compare to what actually charge to credit card.

~wriiten by siew wan~