Do you know what mobile payment is? Is it a money transaction through the mobile phone? Yes, exactly! Mobile payment refers to a payment service that operated under financial regulation and performed via a mobile device. Consumers can pay for different types of services or products through mobile payment instead of paying cash, credit cards, or cheque.
There are four models in mobile payments:
1. Carrier Dominance Model
2. Bank Dominance Model
3. Collaboration Model
Are Malaysians ready for mobile payments? In my opinion, I think they are! Because, today’s world is a network world as well as Malaysia is also considered as a developing country. Through mobile payment, Malaysian can just make the payments through their mobile phone, but not paying cash to the services or products they want to purchase. This is a much easier way for them.
In addition, Citibank Malaysia has launched this mobile payments system to Malaysian. Thus, Malaysian for sure will be ready for this system since it is convenience for them. Citibank states with the slogan that “Paying bills whenever you can and whenever you are”; this slogan will attracts Malaysians who are living in a busy lifestyle of today’s modern society. Citibank allows Malaysian pay their household bills instantly with just a simple SMS from their mobile phone anywhere and anytime just through this mobile payments system. Malaysians will be no more hassles searching for the internet connection as well as saving their time.
http://www.telecomcircle.com/2009/03/mobile-payments-business-models/
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