Now a days, the mobile payment is very popular in advance countries, like US and Japan. In these countries, the mobile users can buy anythings through their mobile phone. They just need carry their mobile phone to let the machine to scan their mobile phone and the payment can be done easily.
However, when it comes to online selling, selecting a payment gateway is one of the major obstacles faced by the merchants in Malaysia. There are too few choices available, worse, none of these limited choices are cost effective. This problem has been addressed by Mobile Money, since it allows merchants to take online order without the need for online shopper to disclose their credit card information. Thus, if the merchant is spread wide used, Malaysian can buy anythings through their mobile phone. The people no need to carry so much cash to shop.
Because of mobile money will also encourage more consumers to shop online. This will definitely be a great boon to the e-commerce industry in Malaysia. It will surely encourage more merchants to adopt online selling as an extra sales channel which complement perfectly with their offline sales channel to help them sell more of their goods and services. This feature allows merchants to accept payment via Mobile Money and process the payment in real time within clicks! For fellow merchants, please take a look at the benefits mobile money has to offer to merchant.In order to pay using Mobile Money, a shopper must have either a savings, current or credit card account with participating banks. It functions like a Credit Card if a shopper applies for a "Pay by Mobile Phone" credit card account. The shopper will be billed by the bank accordinly by month's end. In addition, it functions as a Debit Card if it is tied to shopper's savings or current account. The amount will be deducated instantly from the account upon successful transaction.
On the other hands, the mobile payment has followings advatanges :
• No minimum monthly transactions, No Rental Fees
• No merchants account required
• Selling to anyone, anywhere & anytime
• Gets paid fast and faster turnover in 2 Days
• Flexible methods to Request for Payment: Fixed Line IVR, SMS, WebLink, Mobile Money website
• Good audit trail and secure ticketing
• Marketing & points system opportunities using the Mobile Money SMS systemo
• No merchants account required
• Selling to anyone, anywhere & anytime
• Gets paid fast and faster turnover in 2 Days
• Flexible methods to Request for Payment: Fixed Line IVR, SMS, WebLink, Mobile Money website
• Good audit trail and secure ticketing
• Marketing & points system opportunities using the Mobile Money SMS systemo
Conclusion, it is no doubt that the mobile payment can not be adopted in Malaysia.