Showing posts with label week 5. Show all posts
Showing posts with label week 5. Show all posts

Mobile Payment Systems in Malaysia: Its potentials and consumers' adoption strategies

1:33 PM jenixce


Mobile payment is using mobile device to make transactions via an intermediary, or directly without an intermediary for purchasing goods and services and any other payments. Such systems playing an increasing important role in this 21st century. It has been widely use in Asia and Europe, which included Malaysia.T


The potentials of mobile payment systems include:

  • Location free-access
  • Ease of use, convenience, and user-friendly
  • Avoidance queue
  • Independence of time and place
  • Reduce the numbers of cards carried in wallet
  • Make ubiquitous purchases
  • Complement to cash

Where, mobile payment can generate annual savings of up to 1% of the GDP and increase operational efficiency and productivity levels through expedient payments and receipts of funds. More information can find at http://www.dailyexpress.com.my/news.cfm?NewsID=57966

Strategies to promote mobile payment systems:

  • Enhance security and trust in mobile payment service providers

Eg. A transaction record and documentation should provide which enables consumer made follow-up on past payments easily.

  • Compatibility of mobile payments

There should have consistence between an innovation and the values, experiences, and need of consumers.

  • Simplify of mobile payments

They should simplify the mobile payment methods such as formats of SMS, registeration procedures, billing arrangements and etc.

  • Network externalities and creation of critical mass

It is very important because it significantly affected amount of other consumers to adopt this payment system.

More information can be found at

http://www.mobilepayment.com/

http://www.mobilewallet2u.com/lang/en/about_whatis.html

http://www.neowave.com.my/mobilemoney_overview.asp

http://project.hkkk.fi/helsinkimobility/papers/Mobile%20Applications_2_3.pdf

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credit card debts causes and prevention

1:34 AM keith

Nowadays, more and more people is applying credit card. And this make the credit card debts are increasing rapidly. For Malaysia, the current credit card debt stood at RM24.4 billion but it was relatively low compare to others religion such as England which is facing a trillion of debts. The credit card debt is creating more and more stress.

Here are the some causes for credit card debts:

-Less income, more expenses
-Saving little money or not at all
-Divorce
-Poor money management
-Hoping to win lottery
-Underemployment
-Big medical expenses
-Financial ignorance
-Non financial communication

For more details, you can visit the website below.
http://www.3debtconsolidation.com/top10-causes.html

Here are the some methods for prevention of credit cards debt:

-Try to get the better offer from the credit card company- this can help to reduce the debts.
-Pay more than the minimum payment require by the credit card company or settle all the debts before making further purchases.
-Cut all the credit card; just remain one for emergency use.
-Use the equity to borrow personal loan to settle the credit cards debt, because normally the personal loan’s interest is lower than the credit card debts’ interest.

For more information, you can visit the website below.
http://www.mozdex.com/prevent-credit-card-debt/





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5. A review on a post on e-tailing from My E-Commerce blog.

10:19 PM Chua You Heng

You can use Touch n Go cards to buy burgers???!!!! This might be an advance in the use of touch n go card for the Malaysians, since most of us knows that Touch n Go cards are only applicable on LRT stations or tolls at highway.

But Touch n Go will only be just a system which not much Malaysian will used it, as long as they did not fixed on their major problems. There are certain criticisms with the Touch n Go cards. Other than that, we can realize that there are just a few reload counter. Although they have allow reload of Touch n Go at ATM machines, but what about those who does not possess an ATM card? Or does not use the highway?

Other than that, the maintenance of the Touch n Go card reader. Since the Touch n Go card have been able to be accepted in buses, such as RapidKL, they should be maintaining the machine, so that the "bus takers" will be able to use the system.
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The application of pre-paid cash card for consumers

11:01 PM tcc
Nowadays, prepaid cash card is becoming popular recently. What are prepaid cards and how do they work?

Basically, prepaid cash card is similar with credit card as they provide same ability to purchase products and services but with a main difference which is – prepaid cash cardholder only can apply the prepaid cash card when he/she has loaded money onto that those cards. For example, David has loaded RM 300.00 onto the particular card; therefore, total amount he spent by the card cannot exceed RM300.00.

What are the main advantages of prepaid card?
Control – prepaid cash card is an ideal way to control user’s spending especially teenager/children. As example above, user’s spending will be limited to money loaded before, there is no chance of spending too much.

Safety – Every cardholder is not necessarily to bring large amount of money to purchase products and services if they own a prepaid cash card. Thus, the chance the money being stolen can be avoided.

For further information related to benefits of prepaid cash card, please visit
http://www.moneysupermarket.com/c/prepaid-cards/guide/
http://www.futuracards.com/PrepaidCards-PrepaidCardConvenience.html?wsvc

What are the applications of prepaid cash card?
Prepaid cash card can be used in several ways, such as:

Transfer to cash – The money stored can be transfer into cash by Auto Teller Machine.


Pay for toll – Let’s take Touch n Go as example, it is prepaid cash card which is so popular in Malaysia. It is useful for all highways' tolls in Malaysia.


Shop anywhere – Debit card is one of the prepaid cash card, it is accepted for all retail shops.


Make phone call - I Talk is one of the prepaid cash card, it allows people make international or local call at lower rates.


Even prepaid cash card is making us life much easier in purchasing products and services; however, it includes several disadvantages like costs and fees associated with using them. To understand more about it, please refer to http://www.moneysupermarket.com/c/prepaid-cards/guide/2/
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