E-commerce Weblog

Mobile payment is transaction of money payment made through a mobile device. Mobile exec and Mobile Money are the examples of mobile payments. Both are using the concept of making payment via mobile device such as mobile phone to purchase goods and services. Also there are other companies use this concept as well.

Currently, mobile payment still developing in Malaysia. It can provide customers with admission which can be coded uniquely. It also covers prepaid and postpaid service billing.

There are few types of mobile transaction
-Premium SMS(Short message service) transaction
-WAP(mobile web)
-Mobile payment providers

1)Premium SMS transaction
Wallpaper, music and ringtones can be purchased via SMS.However, it requires the user to send a certain code to confirm the person who is willing to purchase those products.



2)WAP(mobile web)
Before the user purchase the product, the user is required to select the product from the web and confirmation message shows the details of the product.

3)Mobile payment providers
It provide the service of extending the ability of mobile payment. Mobile Money is an example of mobile payment provider. If the user registers an account with mobile payment provider,the user can top up the user's credit and use it to purchase goods and services.




Potentials
There is big potential in this market as consumer's confidence on mobile payment has increased.

-Consumer are more comfortable with low-value transactions over such non-traditional means.This also includes parking,retail outlets and e-tickets.

-Market is at developing stage as there are many mobile phone users. Also, there is low competition.

Strategies
-Educating consumers
It refers the mobile payment functions such as bill payment

-Enhance security
It gives the mobile users when mobile payment system is secured

-Collaborate more banks and companies
The purpose is widening the ability and increased the customer satisfaction.


Related link(s):
1)http://mobile-money.com.my/about_us.htm

2)http://searchmobilecomputing.techtarget.com/sDefinition/0,,sid40_gci772807,00.html

3)http://en.wikipedia.org/wiki/Mobile_payment

4)http://www.mymode.com.my/html/new/index.jsp


5)http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_894885c0-cb73c03a-192d6040-bea9590f

6)http://biz.thestar.com.my/news/story.asp?file=/2007/5/8/business/17656075&sec=business

Labels: week 5