Mobile payment systems have been developed in recent years to facilitate purchases of products, services, and electronic commerce at physical points of sale. Nowadays, consumers used relatively inexpensive mobile phones as digital cameras, personal audio players, date books, games, calculators, and clocks.
Maxis FastTap is an integrated mobile payment service established under a partnership with Nokia, Visa, Maybank and Touch ‘n Go. Customers who sign up can use the Nokia 6212 classic device that the NFC (Near Field Communication) system allows users to purchase goods and services at Visa payWave merchant locations for paying toll, parking and theme park charges.In Malaysia there are several companies that launched mobile payment systems such as Celcom, Maxis, Digi, TMtouch, Maybank, Paypal, Mobile Money International Sdn Bhd and mobileExec Sdn Bhd.
There are several strategies for consumer and its potentials:
Complexity
Complexity and problems with usability have contributed to identify the low adoption of different payment systems, including smart cards and mobile banking. The easy of using has affected consumer adoption of Internet payments and WAP financial services that make purchases and for merchants to receive payments using a mobile phone. Mobile payments are expected to increase consumer convenience by reducing the need for coins and cash in small transactions and increasing the availability of purchase possibilities.
Costs
The cost of a payment transaction has a direct effect on consumer adoption if the cost is passed to customers. The consumer’s intention to WAP(Wireless Application Protocol) shopping shows the strongest characteristic that differentiates the high and low intention groups was price consciousness. As shoppers in electronic channels are considerate to transaction costs of mobile payments should be low enough to make the total cost of the purchase competitive with world prices.
Payment system security and trust in payment systems providers
Nowadays, consumers show sensitive awareness to security and privacy issues. Hence, key requirements for secure financial transactions in electronic environment include confidentiality, data integrity, authentication and non-repudiation. Other security factors important for consumer adoption are anonymity and privacy which relates to use policies of customer's personal information and purchase records
Ownership of the Customer Relationship
Wireless carriers, financial institutions, and card associations must decide who owns the customer relationship, including the billing and collection process. It is important to determine the selected models that satisfy the customer. The parties should have a clear understanding of consumer preferences that should be a key consideration in the decision‐making process. For example, consumers are more comfortable providing financial information to their banks.
NFC Mobile Payment & Promotions
Resource Link:
http://www.telecoms.com/10397/maxis-brings-nfc-payments-to-malaysia
http://www.pcworld.com/article/162850/visa_makes_nfc_payment_commercially_available.html?tk=rss_news
http://project.hkkk.fi/helsinkimobility/papers/Mobile%20Applications_2_3.pdf
1 comments:
It is convenience to use NFC mobile payment! I get many benefits such as paying toll! Consumer adoption policy is quite important to implement, especially the cost must be low.
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