Mobile Payment is the collection of money from a consumer via a mobile device such as their mobile phone, smart phone, personal digital assistant (PDA). The mobile payment can be used to purchase any number of digital goods and physical goods. For example digital goods are ring tones, games, wallpaper for mobile phone and the booking cinema ticket and air ticket. Usually purchase digital good are through by SMS based transaction payments or mobile web payment (WAP).Mobile Money International Sdn Bhd is one of the example that uses mobile payment system. It was established in February 2005. The charter of Mobile Money is to provide Merchants and consumers with a convenient and secure Mobile Payment and Mobile Commerce platform. Mobile Payment platform allows everyone to pay anyone, at anytime from anywhere with just one SMS. It also allows one to receive money from anyone, from anywhere, at anytime. MM Mobile Payment system is very secure and it is a closed loop payment system.
The mobile payment system has potential to make consumer use the mobile web payment (WAP) to make payment on time. The process is quickly replacing premium SMS based transactional payments for digital content and also enables the sale of physical goods. It also has security to protect payment details and consumer identify. It operate with PIN as secure as ATM card, if you had lose your phone, you will just have to call the network operator to deactivate the line. Using the familiar mobile payment system can make high customer satisfaction from quick and predictable payment and safe of use from a familiar set of online payment pages. By adopting the MMWallet system, consumer can get alot of savings such as save up to 20% when you buy prepaid reload and save up to 0.65% when you spend at any MM Merchants.Currently they are lots of merchants available for customers to purchase such as home essential, food, snack, fragrance, health drinks, personal care and much more.
The consumers need not spend more cost to adopt the system. They only buy one mobile phone and they can get to use the system to purchase goods and services and consumers get to compare the price of goods in market price. Thus they will become a smart consumer in the world. Besides that, the mobile commerce transaction are now very secure to perform financial transactions in electronic environment and data of personal data are confidentiality.
The consumers need not spend more cost to adopt the system. They only buy one mobile phone and they can get to use the system to purchase goods and services and consumers get to compare the price of goods in market price. Thus they will become a smart consumer in the world. Besides that, the mobile commerce transaction are now very secure to perform financial transactions in electronic environment and data of personal data are confidentiality.
To know more details about MMWallet and the steps to start using MMWallet, please visit to http://www.carigold.com/portal/forums/showthread.php?threadid=15152.
-ALVIN POON CHEE HAU-
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