Tuesday, July 7, 2009

Mobile Payment Systems in Malaysia



With the intense use of technology gadgets nowadays, the mobile phone has become an essential device to people all around the world, from all ages. Today, the mobile phone’s functions have expanded tremendously apart from the basic function of phone calling and text messaging. In fact, it now enables internet surfing, instant messaging, music playing, e-mailling and even for the payment of goods and services which is known as mobile payment.

In specific, mobile payment (M-Payment) is a cashless and cardless payment method using a wireless mobile device, (e.g, handphones, smartphones and PDA), used for the payment of digital or physical goods and services, substituting cash, cheques and credit cards.

In Malaysia

TeleMoney, was Malaysia’s first mobile payment service made available using a GSM cellular phone. Also, we have Mobile Money which integrated their mobile payment method to their e-commerce software.

Recently, Visa launched its first mobile phone contactless payment system in Malaysia. Users can make their payment simply by waving their handset close to a reader. I’m sure some of you might have heard of Nokia 6212, which is among the handsets providing such service. With the collaboration of Visa, Nokia, Maybank, Touch n’ Go and Maxis, point-of-sales readers have been installed at more than 1800 merchant outlets in KL. This service provided by Maxis is known as Maxis Fast Tap.

With the growth of Wi-Fi and 3G, the mobile payment system has definitely a high potential in our country looking at the frequent use of mobile phones by the people. Mobile payment provides convenience, security and is much easier. In fact, many of us are starting to be aware of this and are already using the mobile payment service, for example, for top-ups and bill payments. This might also enhance the e-commerce industry in Malaysia, encouraging online sales to be made. However, there is much improvement to be made in Malaysia in order to further establish the use of mobile payment service.

Here is how you can make use of the mobile payment service:
• You can pay your utilities, assessment, internet, phone, insurance.
• You can pay your credit card bills, hire purchase to banks.
• You can reload your prepaid phone through Digi, Maxis, Celcom, i-talk, U mobile.
• You can also pay your merchant or charity.
• You can even pay remit money overseas to a wide range of countries.

For further details and instruction to the above actions, visit http://www.mobile-money.com/mmatmguide.html

Make your life easier with mobile payment, anytime, anywhere..!

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