In this century, millions of people are expected to own mobile phones. A mobile payment or m-payment may be defined is as any payment where a mobile device is used to initiate, authorize and confirm an exchange of financial value in return for goods and services. Mobile devices may include mobile phones, PDAs, wireless tablets and any other device that connect to mobile telecommunication network and make it possible for payments to be made.
There have two primary models for mobile payment: Premium SMS based transactional payments and Mobile web payment (WAP). Mobile payment can be used to pay any number fees of digital or physical goods, such as videos, ringtones, games, wallpapers, books, magazines, tickets and other goods. There are a few different purpose uses by the consumers. The most common one is that they use it to pay their credit card bills, telephone bills and so on. They just have to activate their telephones by logging into websites. After registering their mobile telephone numbers, they can enjoy the services. Mobile payment service is developing fast recently in Malaysia. It will work best in those areas where it can emphasize the core virtue of mobile networks-convenience.
The potential of mobile payment systems is that it is easy and convenient for mobile users to make payment through mobile devices. This will help to save their time to go from one place to another place. Other than that, it is very simple to use. They can make their payments by registering their mobile phone numbers. This means that user do not have to go thru sophisticated steps. This will ease those users who are not well educated.
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