
Mobile payment system is new and rapidly-adopting alternative payment method. A consumer can use a mobile phone to pay for wide range of services and digital or goods. For example pay the restaurant bill without interacting with any staff member.
One of the mobile payments systems in
Its potential and the consumer’s adopt strategies are as follow: Consumers are more comfortable with low-value transactions over such non-traditional means. Common applications will include payment for transportation, parking, restaurants, convenience stores, retail outlets, e-tickets to name a few - typically for low-value items. This helps especially when consumers are in need of cash but doesn’t have any in hand, therefore with mobile payments they do not need to even search for an ATM machine to withdraw the needed money for the payment.
Payment systems security is one of the main barriers to electronic and mobile commerce transactions. The key requirements for secure financial transactions in electronic environment include confidentiality, data integrity. Other security factors important for consumer adoption are anonymity and privacy, which relate to use policies of customers’ personal information and purchase records.
Since the mobile payment system has a big market in
http://www.neowave.com.my/mobilemoney_overview.asp
http://en.wikipedia.org/wiki/Mobile_payment
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