Mobile payment is a point of sale payment to selected merchants by using mobile device, such as cell phone, Smartphone or personal digital assistant (PDA). Instead of paying cash, check, or credit cards, the simple, fast and secure way to payment is through mobile for good and service.
Advantages using mobile payment:
• Faster checkout process with single click
• Replace cash transaction
• Charge direct to mobile phone bill or deduct from pre-pay credit/bank account
• Real time payment processing
• Transparent billing
There are four primary models for mobile payment:
1. Premium SMS based transactional payment – consumer send a payment request via SMS text message to a SMS shot code and a premium charge is applied to their phone bill.
2. Direct mobile billing – consumer need 2 authentication PIN and One Time Password for purchase through their mobile account. The payment will charge through the mobile phone bill.
3. Mobile web payment (WAP) – consumer uses web pages displayed or application download on his mobile phone to make payment. This will directly charge through mobile phone bill or credit card or pre- registration at online payment.
4. Contactless NFC (Near Field Communication) – consumer uses a special mobile phone equipped with a smartcard waves phone near a reader module, the payment will directly deduct from pre—paid account or charge to mobile phone bill or bank account.
Currently the most famous mobile payment device engaging in Malaysia – Maxis FastTap
Maxis FastTap is an integrated mobile payment service that uses near field communication (NFC) technology, with partners such as phone company Nokia, financial services companies Visa and Maybank, and Malaysia’s Touch ‘n Go card.
NFC is a short-range wireless technology that allows communications between devices at close range. As an open platform technology, NFC offers high levels of interoperability between devices and readers and is now the global standard for contactless mobile payments, with a wide range of features that allows credit card, debit card, ticketing and transportation payments to be integrated into a mobile phone.
Maxis FastTap is the first global commercial launch for integrated credit card and transit payment applications on a Nokia 6212 classic device. Consumers who sign up for Maxis FastTap are now able to use their Nokia 6212 classic phones to purchase goods and services at more than 1,800 Visa payWave merchant locations as well as pay for toll, transit, parking and theme park charges at more than 3,000 Touch ‘n Go points nationwide.
• Faster checkout process with single click
• Replace cash transaction
• Charge direct to mobile phone bill or deduct from pre-pay credit/bank account
• Real time payment processing
• Transparent billing
There are four primary models for mobile payment:
1. Premium SMS based transactional payment – consumer send a payment request via SMS text message to a SMS shot code and a premium charge is applied to their phone bill.
2. Direct mobile billing – consumer need 2 authentication PIN and One Time Password for purchase through their mobile account. The payment will charge through the mobile phone bill.
3. Mobile web payment (WAP) – consumer uses web pages displayed or application download on his mobile phone to make payment. This will directly charge through mobile phone bill or credit card or pre- registration at online payment.
4. Contactless NFC (Near Field Communication) – consumer uses a special mobile phone equipped with a smartcard waves phone near a reader module, the payment will directly deduct from pre—paid account or charge to mobile phone bill or bank account.
Currently the most famous mobile payment device engaging in Malaysia – Maxis FastTap
Maxis FastTap is an integrated mobile payment service that uses near field communication (NFC) technology, with partners such as phone company Nokia, financial services companies Visa and Maybank, and Malaysia’s Touch ‘n Go card.NFC is a short-range wireless technology that allows communications between devices at close range. As an open platform technology, NFC offers high levels of interoperability between devices and readers and is now the global standard for contactless mobile payments, with a wide range of features that allows credit card, debit card, ticketing and transportation payments to be integrated into a mobile phone.
Maxis FastTap is the first global commercial launch for integrated credit card and transit payment applications on a Nokia 6212 classic device. Consumers who sign up for Maxis FastTap are now able to use their Nokia 6212 classic phones to purchase goods and services at more than 1,800 Visa payWave merchant locations as well as pay for toll, transit, parking and theme park charges at more than 3,000 Touch ‘n Go points nationwide.
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