Mobile Payment System in Malaysia....^0^

Three billion people are expected to own mobile phones in the globe by 2010. Mobile commerce is a natural successor to electronic commerce. A mobile payment or m-payment may be defined, for our purposes, as any payment where a mobile device is used to initiate, authorize and confirm an exchange of financial value in return for goods and services. Mobile devices may include mobile phones, PDAs, wireless tablets and any other device that connect to mobile telecommunication network and make it possible for payments to be made. Mobile payments can become a complement to cash, cheques, credit cards and debit cards. It can also be used for payment of bills (especially utilities and insurance premiums) with access to account-based payment instruments such as electronic funds transfer, Internet banking payments, direct debit and electronic bill presentment.

In Malaysia, Mobile Money (MM Wallet) is one of the examples of mobile payment system. It is PIN-based Mobile Payment Solution designed by Mobile Money International Sdn Bhd to address the limitations and bottlenecks created by cash, cheques and credit cards. This gives the freedom to shoppers to buy products online and pay the merchant using his/her mobile phone without being physically present at the store. Mobile Money will 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. Realizing these needs of merchants in Malaysia, we are the 1'st shopping cart software provider who has integrated Mobile Money as a payment method in our webShaper e-commerce software. This feature allows merchants to accept payment via Mobile Money and process the payment in real time within clicks!

There are a lot of Mobile Merchant Benefits such as it can sell to anyone, anywhere at anytime. No Minimum Monthly Transaction, No Rental Fee, No Merchant Account Required, it only required little sign up fee, but get paid in shorten period. Besides, it can provided Multi Methods to Request for Payment, such as though SMS, Mobile Money Website, or even real time Mobile Money Weblink API weblink that can be integrated with your POS (Point of Sales) System or online storefront system.


Mobile Payment Process