By searching online, Mobile payment ( M-Payment ) is a point-of-sale payment made through a mobile device, such as a cellular telephone, a smartphone or a personal digital assistant ( PDA ). In the business transaction, consumer make a payment by using cash, credit card or cheque. As with the advance techonology, customer in nowaday can make their payment and purchase for a wide range of services and digital goods at anytime, anywhere by using their mobile phone. The example of digital product are ring tones, video, books, magazines, music and other devices. With this services, consumers can make any transaction products without being physically present at the store.With the rapid development of technology in Malaysia, people can also enjoy a secure and convenient way to conduct mobile payment system as it can be used in anyway and anytime. Nokia and Visa have provide consumers who with a credit or debit card with a cellular phone to register for enjoying this services. Besides that, mobile ATM customers can also make bill payment through their own mobile phone.
The service of mobile payment is safe and secure to the users as there is do not require of any cash, cheque and credit card to conduct their transacation and without fraund. Beside that, it is also confirm to the stringent requirement set by Bank Negara Malaysia and participating banks. Others than that, it provide faster settlement within 2 working days compare with other payments systems which normally take between 3 to 4 days. Further more, it has low transaction rate compared to what typically being charged by credit card.
As the conclusion, it is great to have this such services in Malaysia which can bring more convenient and secure to the users.
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