Blogging is no more a fresh topic now. With the ease of Internet, anyone can create own blog for free even. The same happened to the corporate blogging. Corporate blogging is a new marketing communication tools nowadays and it also served as a communication channel among the managing level, executives and employees as well. The main function of the corporate blog is to reach the organizational goals.
In general, there are three types of corporate blog. First, internal blog. Internal blog is accessed through the corporate’s intranet and thus it enables each of the corporate members to view the post of blogs. On the other hand, it also encourages employee participation, free discussion of issues, collective intelligence, direct communication between various layers of the corporate and it create a sense of communication as well. Communication among the corporate members can actually enhance the relationship of them, sharing of information, experiences and opinions. Second, external blog. It is a publicly available weblog that enables the company employees, teams, or spokespersons to share their views about the company’s events or policies. It serves as a marketing tool to promote a new product of a corporate, announce the upcoming events, clarify the grapevine and it’s a public relations tool. Lastly is the CEO blog. It’s a blog that only allows the CEO in the corporate to share information, exchange opinions and discuss the important issues.
Example of a corporate blogging
An example of a corporate blogging is the official Google blog. Inside the blog, there is a large database of information such as latest Google’s products and technology, education, enterprise, politics, recruiting and hiring, scholarship and so on. Through the Google blog, we can also be linked to downloads, maps, image search and etc.
Advantages of corporate blogging
1)Leaders can communicate directly with customers, suppliers and investors, as well
as employees.
2)Blogs give the writer an opportunity to answer critics in a controlled forum.
3)It’s cost efficient.
4)Enables the Sharing of ideas freely
5)Blogs have a broad impact on the nature of online media.
6)People are likely to give feedback if they know someone is listening. Feedback is
instead improving our performance.
Disadvantages of corporate blogging
1)It can be tricky to drag public comment out of a company without first routing through the sanitizing filter of a press office..
2)There is a risk that an ill-judged comment could be seized upon by the media or disgruntled investors.
3)Blogs are easy to start and hard to maintain. This might properly ended up with damaging the reputation of the organization.
4)Blogs make many organizations look like disorganizations, with multiple tones and opinions.
Thursday, July 16, 2009
Monday, July 13, 2009
E-Government in Malaysia: Its implementation so far and Citizen’s adoption strategies.
Electronic government is also known as E-Gov, digital government, online government or transformational government. It provides and improves government services, transactions and interactions with citizens, businesses, and other arms of government through the use of information and communication technology. The government is working together with the citizens, businesses and company to enhance the relationship and it getting to know the people’s need better and provided them needed services. Two-way communication improves the quality and efficiency of the services. The Malaysia’s Electronic Government is established under the launch of the Multimedia Super Corridor’s E-Government Flagship Application to lead the country into the Age of Information. There are 7 projects under it, which are:-
1. Project Monitoring System (PMS)
2. Human Resource Management Information System (HRMIS)
3. Generic Office Environment (GOE)
4. Electronic Procurement (EP)
5. Electronic Services (E-Services)
6. Electronic Labor Exchange (ELX)
7. E-Syariah
Problems in the Implementation of the E-Gov
First, the public is not aware of it. Many do still not know that some online transactions are available. When they want to deal with the government, they go by the traditional way which is wasting time and money. Second, they do simply not trust the Internet. They are concern about the security system and afraid their personal data is stolen. Third, language barrier. Some citizens might not understanding either English or Malay version of the website.
The Citizen’s Adoption Strategies
Electronic Currency
Electronic Currency is also known as e-money, electronic cash, digital money, digital cash or digital currency which refers to money that can only be exchanged electronically. Computer networks, internet and digital stored value systems are needed in order to use electronic currency and we can buy goods and services online by using it. On the other hand, e-currency does contribute some benefits and disadvantages to the online users.
Advantages of Electronic Currency Payment System
Privacy and confidential
The most attractive part of the e-currency is that it’s anonymous. When a customer is transferring some amount of e-currency to a merchant, there’s no one who can obtain the information of the sender. It’s unlike a credit card company who can collect information about the customers’ spending behavior and then sells this data to a third party. Electronic currency payment system is fully protecting the customers’ privacy right because even the banks do not have a record when there is an electronic currency transaction.
Strong security
The security of e-currency is provided through encryption. With the use of RSA cryptography, breaking the digital signature’s code is almost impossible. By developing longer keys, the risk of code breaking may be removed.
Disadvantages of Electronic Currency Payment System
Fraud
If private key is misplaced by the consumer and used by a perpetrator to withdraw funds, the bank wouldn’t even know and the consumer would be considered liable.
Peer to peer double spending
If the consumers choose a peer-to-peer transaction, they might be exposed under some potential drawback. Bank can check the serial number of every coin in transaction against the database of spent coins. So, the transaction can be denied if the coins have been spent.
Examples of Electronic Currency
The first example of e-currency given is Peppercoin. Peppercoin is a cryptographic system for processing micropayments. The system was developed by Silvio Micali and Ron Rivest. The core idea is to bill one a lump sum of money for transactions rather than bill every transaction into a small amount. It totals up all the transactions over users, merchants as well as payment service providers. The random selection is cryptographically secure which means it cannot be influenced by other parties. Peppercoin collects 5-9% of transaction cost from the merchant.
Second example is Click and Buy. There are more than 14,000 merchants from about 26 countries are benefit from this complete service. This service eases users in buying and selling online. Click and Buy internet payment and billing system enable it to become the market leaders in the Europe. Normally, it is used by msn, Skype, ScanDisk, Apple iTunes.
References:-
http://en.wikipedia.org/wiki/Peppercoin
http://www.latestbusinessupdates.com
References:-
http://en.wikipedia.org/wiki/Peppercoin
http://www.latestbusinessupdates.com
Phishing: Examples and Its Prevention Methods
Phishing is a fraudulent attempt, usually made through email, to illegally get users’ private information such as passwords, credit/debit card info, Social Security number, and the bank account numbers. Phishers falsely claiming them to be a legitimate enterprise in order to get the internet users to disclose their personal information easily. Commonly, it will provides a link that let us click on it and our personal data was stolen once we follow the instruction.
The picture on the above is an example of the phishing e-mail.
There are several steps to take to keep from being a victim of phishing, which are:-
a) Be cautious of email asking for personal information. Before we entering our personal
information, be confirmed that the email is from a legal entity or someone we know.
b) Never enter personal information in a pop-up screen.
c) Protect your computer with spam filters, antivirus and antispyware software, and a firewall.
Download the latest security updates for our web browser and operating system. It's
definitely the simplest to safeguard our personal data and keep us from being the victim.
Install all these useful software before it become too late.
d) Only open email attachments you are expecting and know what they contain. It's better to
ignore an attachment from a stranger rather than put ourselves into a risk by opening the
attachment. Other than that, we should always get ourselves updated with the information
that related to the phishing.
Lastly, a way to check whether it's a phisher is by entering a wrong password. The fake site will first accept it, and then we will be redirected to a page that asks us to log in and check later because the website is having technical problem.
Related links:-
1)http://en.wikipedia.org/wiki/Phishing
2)http://spam-ip.com/images/phishing-example-1.jpg
Sunday, July 12, 2009
• E-Government in Malaysia: Its implementation so far and citizen’s adoption strategies
Electronic government is also known as e-gov, digital government and online government. E-gov provides and improves government services, transactions and interactions with citizens, businesses, and other arms of government through the use of information and communication technology. It allows the government working together with the citizens and businesses and this brings many benefits such as enhancing the relationship of both parties, government is getting to know the people better and delivers needed services for them. Two-way communication can improve the quality and efficiency of services. E-gov is established under the Multimedia Super Corridor's E-Government Flagship Application to lead the country into the Age of Information. Under the E-Gov flagship, seven main projects were identified to be the core of the E-Gov applications.
The E-Gov projects are:
1. Project Monitoring System (PMS)
2. Human Resource Management Information System (HRMIS)
3. Generic Office Environment (GOE)
4. Electronic Procurement (EP)
5. Electronic Services (E-Services)
6. Electronic Labor Exchange (ELX)
7. E-Syariah
There are some problems in the implementation of E-gov. First, the public are lack of awareness for this implementation. When they want to deal with the government, they go by the traditional way which wasting time and money. Second, those who are aware of it are simply not trusting the Internet. Third, language barrier. In order to overcome these problems, citizen's adoption strategies should be implemented. Government can create the public's awareness by advertising in the newspaper, on TV or on-air. To create the trustworthiness among the citizens, government should make sure that the information on website is timely and it also has to safeguard the people's personal data. Just few days before, some of the website of the American government are hacked. So, Malaysian government must be aware and prevent this critical issue. Last but not least, government should allows multi-language on the website to make it convenient to all the online users that from different races.
The E-Gov projects are:
1. Project Monitoring System (PMS)
2. Human Resource Management Information System (HRMIS)
3. Generic Office Environment (GOE)
4. Electronic Procurement (EP)
5. Electronic Services (E-Services)
6. Electronic Labor Exchange (ELX)
7. E-Syariah
There are some problems in the implementation of E-gov. First, the public are lack of awareness for this implementation. When they want to deal with the government, they go by the traditional way which wasting time and money. Second, those who are aware of it are simply not trusting the Internet. Third, language barrier. In order to overcome these problems, citizen's adoption strategies should be implemented. Government can create the public's awareness by advertising in the newspaper, on TV or on-air. To create the trustworthiness among the citizens, government should make sure that the information on website is timely and it also has to safeguard the people's personal data. Just few days before, some of the website of the American government are hacked. So, Malaysian government must be aware and prevent this critical issue. Last but not least, government should allows multi-language on the website to make it convenient to all the online users that from different races.
E-learning in Malaysia universities: Pros and Cons from students perspective.
Electronic learning or E-learning is the method of learning process which is supported by technology. Usually computers are involved and activities such as web conferencing, emailing and downloading of learning materials are done for the E-learning process. There are a lot universities and colleges out there who offer online degrees and involving more digital technology to allow their students to study in an E-learning environment with qualified assistance.
In Malaysia, MARA University of Technology (UTM), Universiti Malaysia Sarawak (UNIMAS), University Sains Malaysia (USM), University Kebangsaan Malaysia (UKM) are among the few notable universities that are utilizing E-learning process to benefit their students. The development of e-learning strategies has been introduced into Malaysian public universities since 1996.
The introduction of E-learning has since brought a lot of advantages to major organizations (service providers) and individual (students). The very first advantage is the accessibility. Student can learn from anywhere, irrespective the location of their residence or the location of the organizations that provide E-classes. This can be automatically linked to environment impact reductions as students do not have to travel and virtual notes are used instead of paper notes. This is absolutely environmental friendly!
The second thing is the convenience and flexibility that a student can enjoy as E-learning process is available 24/7 where students can download lecture notes,, resources, assessments and assignments online from the website of the service providers. They also can interact with their lecturers and other students online through web conference or e-mail. Thus, they are not bound to time or day to attend classes where they must attend physically like traditional learning process.
Another advantage is learning for higher level of education, mainly tertiary studies, are made affordable yet maintaining the quality of the education as students can save up a lot of costs such as for accommodations, traveling, food and other anonymous fees necessary when you have to attend to the class physically. It is believed that a high caliber instructor can share their knowledge throughout the online network without boundaries.
However, nothing is perfect right? The main disadvantage of E-learning is the lack of face-to-face confrontation and communication between the students and the instructors or lecturers. Thus there might be no understanding between the students and the lecturers as feelings, motivation and non-verbal signs of students cannot be notice easily by web-conferencing although they can see each other, unlike the traditional learning process, Interaction between students and lecturers are necessary for building relationship and understanding as learning process is not one-way communication.
Students’ progresses also cannot be tracked since the lack of face-to-face interaction as the process of E-learning is self-paced by the students. Although this is not applicable to all students but E-learning’s students may be slacking due to the unsupervised learning process. It is best for students to learn what they should master in a specific time frame in their courses.
Although E-learning is growing and gaining popularity in every part of the world today as it has a lot of advantages to the students, instructors as well as the organizations that provides E-learning, it is undeniable too that E-learning has it’s disadvantages too. Whatever it is, we should fully utilize the benefits in the E-learning process and try to diminish the disadvantages through the cooperation with lecturers or instructors with good communication involved. Thus, there should be no problem for E-learning to carry on and continue to develop into one of the major learning process in the future.
reference links:
http://en.wikipedia.org/wiki/E-learning
http://www.hukm.ukm.my/
http://www.unimas.my/index.php?option=com_content&task=view&id=171&Itemid=138
In Malaysia, MARA University of Technology (UTM), Universiti Malaysia Sarawak (UNIMAS), University Sains Malaysia (USM), University Kebangsaan Malaysia (UKM) are among the few notable universities that are utilizing E-learning process to benefit their students. The development of e-learning strategies has been introduced into Malaysian public universities since 1996.
The introduction of E-learning has since brought a lot of advantages to major organizations (service providers) and individual (students). The very first advantage is the accessibility. Student can learn from anywhere, irrespective the location of their residence or the location of the organizations that provide E-classes. This can be automatically linked to environment impact reductions as students do not have to travel and virtual notes are used instead of paper notes. This is absolutely environmental friendly!
The second thing is the convenience and flexibility that a student can enjoy as E-learning process is available 24/7 where students can download lecture notes,, resources, assessments and assignments online from the website of the service providers. They also can interact with their lecturers and other students online through web conference or e-mail. Thus, they are not bound to time or day to attend classes where they must attend physically like traditional learning process.
Another advantage is learning for higher level of education, mainly tertiary studies, are made affordable yet maintaining the quality of the education as students can save up a lot of costs such as for accommodations, traveling, food and other anonymous fees necessary when you have to attend to the class physically. It is believed that a high caliber instructor can share their knowledge throughout the online network without boundaries.
However, nothing is perfect right? The main disadvantage of E-learning is the lack of face-to-face confrontation and communication between the students and the instructors or lecturers. Thus there might be no understanding between the students and the lecturers as feelings, motivation and non-verbal signs of students cannot be notice easily by web-conferencing although they can see each other, unlike the traditional learning process, Interaction between students and lecturers are necessary for building relationship and understanding as learning process is not one-way communication.
Students’ progresses also cannot be tracked since the lack of face-to-face interaction as the process of E-learning is self-paced by the students. Although this is not applicable to all students but E-learning’s students may be slacking due to the unsupervised learning process. It is best for students to learn what they should master in a specific time frame in their courses.
Although E-learning is growing and gaining popularity in every part of the world today as it has a lot of advantages to the students, instructors as well as the organizations that provides E-learning, it is undeniable too that E-learning has it’s disadvantages too. Whatever it is, we should fully utilize the benefits in the E-learning process and try to diminish the disadvantages through the cooperation with lecturers or instructors with good communication involved. Thus, there should be no problem for E-learning to carry on and continue to develop into one of the major learning process in the future.
reference links:
http://en.wikipedia.org/wiki/E-learning
http://www.hukm.ukm.my/
http://www.unimas.my/index.php?option=com_content&task=view&id=171&Itemid=138
Review a local, transactional e-commerce site - Public Bank (week 6)
Generally, there are two types of e-commerce: B2C and B2B. B2C means e-commerce transactions between business and consumer, and B2B means e-commerce transaction between businesses to business. In addition, there is also B2G (business to government) type of e-commerce.
One of the local e-commerce sites will be publicbank.com.my. Public Bank is currently the biggest domestic bank in Malaysia by shareholders' funds. It focuses on retail customers and small to medium sized enterprises. i believe that everyone knows what is Public Bank and what does it actually carry out. Previously, people will have to pay their payment manually and there are not much method of e-commerce being applied in Public bank.
Nowadays, Public bank had changed its policy and now almost everything can be deal with in e-payment. Public bank have a very attractive layout and users can easy understand with evry statement as well as every transaction made. Public bank's design looks simple but it is actually "complicated", which means it is nice and fulfill users' requirement. Besides, public bank's website using the font and color which can actually viewed by everyone and color (bright) that used is suitable to everyone.
Public bank have several types of product, which include bill payment through e-banking, investment, loan, credit transfer, gold investment, share trading, insurance, fixed deposit, public mutual, ATM and etc. All services that provided by public bank make ease of users and transaction that been made is also smooth and convenience.
Furthermore, through public bank's website, we can also link to useful website, such as MIFC, banking info, insurance info, PIDM and etc. This several link even make ease users because users can find out all possible solution and e-payment methods. Users can actually make payment or any transaction through online and it is really convenience. Public bank does really concern for everyone of us and services that provided is easy to use and guildeline is also provided to guide users.
Furthermore, through public bank's website, we can also link to useful website, such as MIFC, banking info, insurance info, PIDM and etc. This several link even make ease users because users can find out all possible solution and e-payment methods. Users can actually make payment or any transaction through online and it is really convenience. Public bank does really concern for everyone of us and services that provided is easy to use and guildeline is also provided to guide users.
Additionally, Public bank provides a search engine to make it convenience to the consumer and its able to fulfill the consumers' need by typing the keywords. Moreover, publicbank.com.my provides a double secure verification system too. It requires the users to verify their members’ status and telephone numbers when users wanted to trade with the items in the website. Consumers have different options to make their payment, such as online banking or by credit card which is verified via visa or master card. In order to bid and sell, Public bank also provided 2 types of verification to the consumers such as handphone verification and email verification. This can avoid the fraud and phising from occuring by giving a request code.
Sources from:
1. http://en.wikipedia.org/wiki/Electronic_commerce
2. http://www.publicbank.com.my/
Sources from:
1. http://en.wikipedia.org/wiki/Electronic_commerce
2. http://www.publicbank.com.my/
credit card debt:causes and preventions
Why people using credit card?? Mostly people using credit card is encouragement from banks. Banks always encourage consumer to make transaction via credit cards. All these cause credit card holders increase dramatically. Furthermore, banks give a lot reward to card holder who spends higher amounts of money will get a grand prizes or money rebates. This also makes a lot card holder bankruptcy and having debts.
Causes of credit card debts
1.Poor finance management
- Purchase using credit card is very convenience because consumers is using future money without develop any plan. Thus, people do not aware amount of money
their spending. At the end of the month, they only realized that they are carrying
a huge debt after receiving monthly statement.
2.Unemployment
- Due to bad economies, many people lost their job and unable to maintain their
living expenses, so people using credit card to cover their future living expenses.
They doing like that because they need to cover their expenses purpose to maintain their current lifestyle. This may lead to a rise in debt if their expenses
are not cut down.
3.Cycle effect
- People continue using credit card will fall into a cycle of creating and paying of credit card debts. Once the debts excess their income, the interest of debts or late payment charge are coming. The extra charge makes the debts become larger and larger. At the end, pay for debts is never end.
Prevention of credit card debts
1.Budget planning
- Budget planning is a best method to help people manage their own finance.People need to learn self-control to spend and able to overcome their debts.Thus, debts would not create.
2.Downsize the credit limit
- People cannot always think that credit card is not an unlimited credit card, if card holder think this is an unlimited credit card, they will not limit their spending.
3.Commit a budget to writing
- controlling spending is the way to prevent excessive credit card debts. Write down all the budget down then you will know and clear where u money spend to, how much u spend in this month and how much left in this month. Besides that, when you know you almost over budget then you will start to control you spend.
References:
1.http://www.nurido.at/news/understanding-causes-of-credit-card-debt-problems-123653.html
2.http://www.finweb.com/banking-credit/helpful-tips-to-control-excessive-credit-card-debt.html
Causes of credit card debts
1.Poor finance management
- Purchase using credit card is very convenience because consumers is using future money without develop any plan. Thus, people do not aware amount of money
their spending. At the end of the month, they only realized that they are carrying
a huge debt after receiving monthly statement.
2.Unemployment
- Due to bad economies, many people lost their job and unable to maintain their
living expenses, so people using credit card to cover their future living expenses.
They doing like that because they need to cover their expenses purpose to maintain their current lifestyle. This may lead to a rise in debt if their expenses
are not cut down.
3.Cycle effect
- People continue using credit card will fall into a cycle of creating and paying of credit card debts. Once the debts excess their income, the interest of debts or late payment charge are coming. The extra charge makes the debts become larger and larger. At the end, pay for debts is never end.
Prevention of credit card debts
1.Budget planning
- Budget planning is a best method to help people manage their own finance.People need to learn self-control to spend and able to overcome their debts.Thus, debts would not create.
2.Downsize the credit limit
- People cannot always think that credit card is not an unlimited credit card, if card holder think this is an unlimited credit card, they will not limit their spending.
3.Commit a budget to writing
- controlling spending is the way to prevent excessive credit card debts. Write down all the budget down then you will know and clear where u money spend to, how much u spend in this month and how much left in this month. Besides that, when you know you almost over budget then you will start to control you spend.
References:
1.http://www.nurido.at/news/understanding-causes-of-credit-card-debt-problems-123653.html
2.http://www.finweb.com/banking-credit/helpful-tips-to-control-excessive-credit-card-debt.html
Saturday, July 11, 2009
The application of pre-paid cash card for consumers
Our so
ciety are moving towards a cashless society nowadays. Since then, many prepaid cash card are launched and frequently used in many countries and even Malaysia has it's very own prepaid cash card, which is the "Touch n Go" that we've already known since it was officially launched in March 1997.
ciety are moving towards a cashless society nowadays. Since then, many prepaid cash card are launched and frequently used in many countries and even Malaysia has it's very own prepaid cash card, which is the "Touch n Go" that we've already known since it was officially launched in March 1997. 
(A Touch n Go card)
How this so-called prepaid cash card works? It is really simple. It works just like any credit card or debit card where you can purchase products and services using your card, which means that no worry if you did not bring your cash. The only difference from credit and debit cards is your card does not linked to any bank account where credit card will left your debt piled up and pay later or debit card where you spend the money available in your saving account.
Prepaid cash card only allow you to spend the credit balance which you "loaded" earlier into the card. Let's say you preload RM100 into your card, you can only spend approximately RM100 and you can't spend much more than that amount. If your card runs out of cash, just reload it from any participating outlets nationwide or reload it at any ATM where it will auto-credit your saving account.
A very good example of prepaid cash card in our country is the Touch n Go card which is launched in March 1997. Touch n Go is the only prepaid cash card that can be used to make payment for all highway tolls in Malaysia and payment for major public transportations fares (such as buses, LRT, KTM, monorail) in Klang Valley. It can be used also to make payments for parking fees in some of the shopping complexes.
(making payment at toll using Touch n Go)Touch n Go makes payment for low-value payment convinience and efficient. It successfully reduces transaction time at busy usage points and make users convinient as they do not have to prepare small changes for payment of fare.
The Octopus card is another successful prepaid cash card that are widely use in Hong Kong. Being the world's first contactless smart card system, it has since grown into a widely used payment system for virtually all public transportation in Hong Kong. It was so successful that it was used by 95% of the Hong Kong's population aged 16 to 65, generating 10 million transactions daily.
( An Octopus card)
Initially introduced for making payments for public transportation fare, it has then expanded for multiple other purposes. Other than making payment for transportation fare, it can now be used for payments of consumer products in more than 1,000 participating merchants with the more notable such as Watson, Parkson, 7-Eleven, Starbucks and Mc' Donalds in Hong Kong. It is also used for payment of parking meters, car parks, vending machines, and phone booths.
(types of Octopus card;click to enlarge)
Until now I have not mention anything about how to check the balance for the Touch n Go card or the Octopus card. Well, you can check the balance at any usage points where it will display through a panel or indicator.
(just flash your card and after making payment the balance will be shown)
Other prepaid cash cards that are starting to build up their usage in Malaysia is the Ambank NexG Prepaid Mastercard, which is more notable of it usage where it usage is applicable in places such as convenient stores and also major shopping centers for making purchase payments.
For other countries where usage of prepaid cash cards that are rising in popularity are such as the US, where they use the Mastercard Prepaid card and the Sterling Mastercard in the UK.
( Sterling card)
(Mastercard prepaid card)
The usage of prepaid cash card is gaining popularity in the past few years, it certainly does bring more advantages than disadvantages to us. Obviously, by using a prepaid cash card, you cannot spend more than you have and it's so simple to use the card as it does not involve many procedures like credit cards where you have to sign or debit cards where you have to enter your PIN, therefore, even senior citizens can enjoy the usage of this card as they do not have to bring lots of cash when they go out.
If the implementation of payment for retail purchasing by prepaid cash card is successful in Malaysia, it sure do convinient us. Just a simple "beep" sound and your payment is made whenever you are buying something, totally hassle-free!
reference links:
http://www.touchngo.com.my/index.jsp
http://www.octopuscards.com/consumer/en/index.jsp
http://en.wikipedia.org/wiki/Octopus_cardhttp://en.wikipedia.org/wiki/Electronic_money
Thursday, July 2, 2009
Mobile payment systems in Malaysia: Its potentials and consumer's adoption strategies
As information for everyone, mobile payments are actually payments made using mobile handsets and other devices, either to directly purchase or to authorize payment for goods and services. Such devices are playing an increasing end evolving role in the wider development of electronic payment systems around Asia Pacific, which includes Malaysia. (Sounds cool right)
Mobile payment is also known as collection of money from consumer via a mobile device such as their mobile phone. Mobile payment systems can be used for purchasing music, ringtones, wallpaper and games (such as offered on newspaper and magazine). Most Malaysian buys these kinds of ringtones and games via mobile payment, either via GPRS/WAP or SMS.
Premium transaction is also known as types of mobile transaction Premium SMS transactions are the most common in Malaysia, most mobile users download wallpaper, music, ringtones and mobile games by buying them through SMS payment. SMS payment requires you to send a certain code to certain number to confirm you want to buy those products.
Premium transaction is also known as types of mobile transaction Premium SMS transactions are the most common in Malaysia, most mobile users download wallpaper, music, ringtones and mobile games by buying them through SMS payment. SMS payment requires you to send a certain code to certain number to confirm you want to buy those products.
Mobile payment provider is different they uses SMS and Web, it helps to extend the ability of mobile payment. There are few mobile payment providers in Malaysia, such as Mobile Money (http://mobile-money.com.my/index.html) and mwallet (http://mwallet.com/w/mwallet.htm) who provides variety of products and services to every user. By registering an account with mobile payment provider, you can also top up your credit to them and use it to purchase products or services offered by them.
As we can see in nowadays changes, the potential for this market is quite big, since it becomes one of the most convenient methods for every user. Besides, the mobile payment providers have a large market share to be grabbed on. This mobile payment is still new and developing in Malaysia. It has potential to continue to grow as consumer’s confidence on mobile payment increased. Mobile payment providers have most potential for growing.
How Malaysian adopts with mobile payment
Nowadays, with demand for high-speed mobile person-to-person (mobile P2P) payments and transfers are growing, many consumers are saying that they would likely use the service if it were available. Consumers cited speed and convenience as primary incentives for adopting mobile P2P payment services. Besides, the speed at which the transaction is completed should be less than that of the credit card or cash and it should be hassle free. This system should indeed reduce the burden of carrying multiple cards and cash.
In today environment, everyone of us will sure believe that mobile payments would not only bring small transactions within its scope but also would have a higher reach as more people have mobile phones than other forms of electronic payments.
Furthermore, consumers would like the most trusted brands within the ecosystem to be associated with mobile payments. They would want surety about the security of their money as the mobile transaction could be a significant portion of their salary for people in the emerging markets.
Although mobile payment is very convenience but there are still many consumers have phobia in this kind of advancement technology system, so they would rather use complicated but manual processes rather than technology. Hence it is important to have transactions as easy has sending SMS and should be completed with one press of button. Consumers would adopt if there are enough merchants accepting the payments and merchants would want enough consumer pull.
Last but not least, the transaction costs need to be limited in this form of payment to encourage wider acceptance for low value transactions. It should provide a clear monetary benefit over other existing payment and money transfer mechanisms. In case of money transfer or store value accounts, there would be enough physical locations where consumers can cash out. Customer training and education is the key to success. Road shows and awareness programs can be held in malls and other high traffic locations. The success would come only when the rural areas have sufficient adoption.
References:
Subscribe to:
Posts (Atom)
