M-payment (mobile payment) is a point-of-sale payment made through a mobile device, There are various types of mobile payment systems, such as .
Banks / Credit Card Companies / Dedicated Payment Processors :
~ Mobile Credit Card Payments
~ Migrating Internet Payment Systems
Mobile Network Operators :
~ Utilization of existing Billing Mechanisms (Prepaid and contract based)
Multi-Payment Method Frameworks :
~ Mobile Network Operators
~ Dedicated Payment Processors
~ Shopping Malls, Large Shops
Other Mobile Payment Systems
~ Mobile Home Banking, Internet Payments, Mobile Retailer Support
Using m-payment, a person with a wireless device could pay for items in a store or settle a restaurant bill without interacting with any staff member. So, for example, if a restaurant patron wanted to pay quickly and leave the restaurant on time to get to an appointment, the bill could be paid directly from the table - without waiting for a server to bring the check. The patron would simply connect to the cash register with a wireless device, punch in the table number and bank personal identification number (PIN), and authorize payment.
The earliest m-payment trials were based on the wide area network (WAN) used for cellular phones. That meant, however, that users had to pay cell phone charges to make a payment, and also had to punch in long sequences of digits each time. Other technologies tested enable less cumbersome procedures. Palm and Verifone will use infrared (IR) data transmission for their initial trials. Among the other technologies being used are Bluetooth, WiFi, and RFID, a short-range transmission system. Public key infrastructure (PKI) encryption - considered to be necessary for secure m-commerce in general - is currently being incorporated into digital wireless networks and into an increasing number of wireless devices, a trend that is likely to increase consumer confidence in m-payment's security.
Bank Negara Malaysia sees tremendous promise in mobile telecommunication networks as an electronic payment channel since mobile phones are already in the hands of most Malaysians, with 88% of the Malaysian population subscribing to mobile phone services.
The high penetration rate affirms mobile phone networks as an increasingly popular channel for Malaysians to perform a plethora of activities beyond voice communication, encompassing all forms of digital communication, commerce, banking and payments. Indeed, payments via text messaging has the potential to grow in importance.
Banks / Credit Card Companies / Dedicated Payment Processors :
~ Mobile Credit Card Payments
~ Migrating Internet Payment Systems
Mobile Network Operators :
~ Utilization of existing Billing Mechanisms (Prepaid and contract based)
Multi-Payment Method Frameworks :
~ Mobile Network Operators
~ Dedicated Payment Processors
~ Shopping Malls, Large Shops
Other Mobile Payment Systems
~ Mobile Home Banking, Internet Payments, Mobile Retailer Support
Using m-payment, a person with a wireless device could pay for items in a store or settle a restaurant bill without interacting with any staff member. So, for example, if a restaurant patron wanted to pay quickly and leave the restaurant on time to get to an appointment, the bill could be paid directly from the table - without waiting for a server to bring the check. The patron would simply connect to the cash register with a wireless device, punch in the table number and bank personal identification number (PIN), and authorize payment.
The earliest m-payment trials were based on the wide area network (WAN) used for cellular phones. That meant, however, that users had to pay cell phone charges to make a payment, and also had to punch in long sequences of digits each time. Other technologies tested enable less cumbersome procedures. Palm and Verifone will use infrared (IR) data transmission for their initial trials. Among the other technologies being used are Bluetooth, WiFi, and RFID, a short-range transmission system. Public key infrastructure (PKI) encryption - considered to be necessary for secure m-commerce in general - is currently being incorporated into digital wireless networks and into an increasing number of wireless devices, a trend that is likely to increase consumer confidence in m-payment's security.
Bank Negara Malaysia sees tremendous promise in mobile telecommunication networks as an electronic payment channel since mobile phones are already in the hands of most Malaysians, with 88% of the Malaysian population subscribing to mobile phone services.
The high penetration rate affirms mobile phone networks as an increasingly popular channel for Malaysians to perform a plethora of activities beyond voice communication, encompassing all forms of digital communication, commerce, banking and payments. Indeed, payments via text messaging has the potential to grow in importance.
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