Mobile payment systems in Malaysia: its potentials and consumers’ adaptation strategies:

There are many electronic payment methods, which includes electronic payment cards. Virtual credit cards, smart cards, person-to-person payment methods, payments made electronically at kiosk, and many more. E-payments for business-to-business include electronic checks, purchasing cards, EBT, EFT and many more.

The mobile channel can be effectively used as a self-funding and revenue generating medium.

In Malaysia, these services are developed at a very fast rate. Its has been increasing rapidly and improving day by day. In fact, its popularity can be viewed through the bar chat.

There are some characteristics that makes it so Famous. Besides being an independence device, its divisible, safe and has little transaction fees. It is easy to use and has certain regulations that make it very reliable.

Malaysians have made various improvement and changes to adapt and use e-payment systems. Companies have changed to a computerized era and have upgraded their own knowledge on IT. To support such a system, they have to make sure it is easy and simple for their customers to use. Besides being user-friendly, there are customer service departments to assist users who are illiterate in IT to use such a system too. Companies have made use of the internet to help improve their own efficiency and also customers’ convenience.

Education has played a part too. Children of this generation rely highly on the internet. They used it everyday to send e-mails, finding information and even keep in touch through many applications online.

E-payment has become an essential part of our lives today, making it very easy and convenient. Thanks to the IT development, we can save the hustle and bustle on the road and paper work, being more environmental friendly.

by Liew Yilin