The examples of mobile payments available in Malaysia are Mobile Money. It are using the concept of making payment transactions just through a mobile device to pay for goods and services anytime without having cash on hand, cheques or even physically present a store.
Mobile Money offers products such as food and beverages, car accessories and personal care products which can be viewed from thier website. They also offer services such as buying or paying broadband bills(Streamyx) by SMS the code of product to them.
Potentials
The potential for this market is quite big, because it is very convenient to use mobile payment. The mobile payment providers have a large market share to be grab 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 has most potential for growing.
To put it simple:
- Market still at developing stage
- Many mobile phone users
- Low competition
Strategies:
- Educate consumers about mobile payments, how to use and introduce its functions (e.g. bill payment, mobile purchase)
- Enchance security and confidence to mobile users
- Collaborate with more banks and companies to widen the ability to pay via mobile at the same time it helps to increased customer’s satisfaction and confidence
- Maintain customer’s loyalty
Mobile Commerce
Just like internet commerce, which uses internet to conduct business, Mobile Commerce is a term used to describe businesses done via the mobile phone. Mobile Money enables our members to do just that. With mobile money, one can buy directly from suppliers to save, or to trade.
How does MM provide these business opportunities?
MM is a remote payment platform. We also provide a mobile commerce platform where by we allow suppliers to list their products in our platform. Together with the referral networking platform that we provide, one can refer members to form their network and make money out of the business activities conducted via the network.
What do I need to capitalize on this business opportunities?
Just your phone. You don’t even need to put in large capital, in fact, in many cases, you can even make lots of money with just a couple of hundred ringgit to start with. You can make back this money within a few days, if you really work hard, and grow a permanent business of your own. What you need is the willingness to learn and to work.
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