What is mobile payment?Mobile payment is design to address the limitations and bottlenecks created by cash, cheques and credit cards. It unlock the power of the mobile phone to make payments, allowing registered users to pay for goods and services at anytime, anywhere using only a mobile phone. This gives the freedom to consumers to buy products online and pay the merchant using his/her mobile phone without being physically present at the store.
The mobile payment can used to purchase digital product or physical. Digital products for examples are ring tones, games, themes or even booking cinema tickets and air tickets! Its usually make the transaction via GPRS/WAP or SMS.
Potentials
With the launches of mobile payment system, Maxis alliances with Nokia, Visa, Maybank and Touch’n Go, few powerful financial organizations start the world’s first contactless system, has great huge potentials market. This system helps consumers enjoy the benefits of speed and convenience, similar to their Visa payWave cards on their mobile phones. Besides, this services works on any mobile and it eliminates the trouble to queue up on paying the electric bills. With those advantages, it believes that the services will enhance their satisfaction and confidence and continuing attract more customers to use it.
Strategies
Company can advertise it with the function and benefits attractively on magazines, newspaper, or even in cinemas. Each movie has few minute on advertising before the movie start. It can attract the attention of public. Besides, company can setting booth in shopping mall by giving promotion with extra credit or gift. Company need to continuing enhance the function to increase the confidence of users.
Reference:
1. http://mis-asia.com/news/articles/worlds-first-contactless-mobile-payment-system-launches-in-malaysia
2. http://www.neowave.com.my/mobilemoney_overview.asp
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