Mobile payment system in Malaysia: Its potentials and consumers' adoption strategies by katrina

What is mobile payment? Mobile payment defined as the process of two parties exchanging financial value using a mobile device in return of goods and services. The purpose of using mobile device is as a wireless communication device, including mobile phones, PDAs, wireless tablets and mobile computers. Like SMS is viewed as the preferred channel for mobile money exchanges. For example, if a restaurant patron wanted to pay quickly and leave the restaurant on time to get to an appointment, the bill could be paid directly from the table without waiting for a server to bring the check. the patron would simply connect to the cash register with a wireless device, punch in the table number and bank personal identification number (PIN) and authorize payment. Its potentials and consumers' adoption strategies:-

• providing a new wave of financial convenience to the customers
• offering the customers the ease of carrying out the transaction via mobile device
• bringing value the customers by providing them with a secure and convenience way of making transaction.