Mobile payment is the collection of money from a consumer via a mobile device such as mobile phone, Smartphone, Personal Digital Assistant (PDA) or other such device. There have two primary models for mobile payment: Premium SMS based transactional payments and Mobile web payment (WAP). Mobile payment can be used to pay any number fees of digital or physical goods, such as videos, ringtones, games, wallpapers, books, magazines, tickets and other goods. Mobile payment service is developing fast recently in Malaysia. It will work best in those areas where it can emphasize the core virtue of mobile networks-convenience.
WAP is consumer uses web pages displayed on their mobile phone to make a payment. This process is quicker than premium SMS based transactional payments for digital content and also enables the sale of physical goods.
In the following, some benefit that consumer make payment through mobile payment system:
- Follow-on sales where the mobile web payment can lead back to a store or to other goods the consumer may like. These pages have a URL and can be bookmarked making it easy to re-visit or share with friends.
- High customer satisfaction from quick and predictable payments
- Ease of use from a familiar set of online payment pages
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