Nowadays, as moblie commerce becomes more and more important in most of the industries, it makes mobile payment a new method of payment. Consumer can through mobile phone to pay the goods and services such as digital goods, books and magazines, and transport fees, instead of paying with cash or by cheque and credit cards. For example from Africa which is in developing market, it starting to view mobile phone as an opportunity as many Africans have access to mobile phone rather than bank accounts or Internet.
In 2001, Malaysia, the first mobile payment service via multi-channel access for internet and wireless transaction is created, TeleMoney. A GSM cellular phone and credit or debit card is needed to register for the service. Internet and mobile commerce service via TeleMoney is offered by Systems@Work which is the mover for TeleMoney as a merchant for settlement, clearing and payment bank for service in Malaysia. System@Work also collaborate with celcom which is a telco to support the growth of mobile commerce
in Malaysia.
Maxis chief executive officer, Sandip Das, said: “Maxis FastTap is an integrated mobile payment service that uses near field communication (NFC) technology, with partners such as phone company Nokia, financial services companies Visa and Maybank, and Malaysia’s Touch ‘n Go card.” ('World's First Contactless Mobile Payment System' Launches in Malaysia, 2009)
After signed up the Maxis FastTap, consumer can purchase goods and services through theuse of Nokia 6212 classic phones. Malaysia can through using the mobile phones to enjoy the benefits same as their Visa payWave cards.
Maybank head of consumer banking, Lim Hong Tat, said: “The Maybankard Visa payWave mobile service appeals to tech-savvy members who want a mobile device that does more as well as reflects their lifestyle.” ('World's First Contactless Mobile Payment System' Launches in Malaysia, 2009)
In BSN, they are also provide service that allow customer to pay their merchants bill through mobile payment after they have registered and open account with mobile payment service providers.
As there are more and more people are having mobile phone. Some of the business men or friend around us are using two mobile phones even. Consumers' request faster and convenient service. Mobile payment is now one of the convenient payment systems for merchant payments. And we can see that some of the banks already provided the mobile payment service for the public, such as BSN and Maybank. Therefore, there is a need for poeple to accept the mobiletogether with the developement of technology as mobile payment will become popular in the future.
References:
Mobile Payment. fromhttp://www.bnm.gov.my/microsites/payment/0104_types.htm#mobilepayment
Monile Payment System. from
http://www.telecomsmarketresearch.com/resources/Mobile_Payment_Systems.shtml
Malaysia's First Mobile Payment System Launched. from
http://www.zdnetasia.com/malaysia-s-first-mobile-payment-system-launched-39001884.htm
'World's First Contactless Mobile Payment System' Launches in Malaysia. from
http://mis-asia.com/news/articles/worlds-first-contactless-mobile-payment-system-launches-in-malaysia
Mobile Payment: Potential and Reality for Nigeria. fromhttp://www.cipaco.org/spip.php?article1963
Types of Payment Systems
Mobile payment allows you to make payments to selected merchants by using your mobile phones. Bill payments and purchase of goods and services are among the cashless transactions that can be made. To enjoy the benefits of mobile payments, you have to register and open an account with mobile payment
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