Mobile payment system in Malaysia: Its potentials and comsumers' adoption strategies.

M-payment (mobile payment) is a point-of-sale payment made through a mobile device, such as a cellular telephone, a smart phone, or a personal digital assistant (PDA). Using m-payment, a person with a wireless device could pay for items in a store or settle a bill without interacting with any staff member. Mobile payment can be used to purchase any number of digital or hard goods, such as Music, video, ringtones, games, wallpapers, books, magazines, tickets and so on.

The most famous mobile payment system in Malaysia is MobileMoneyWallet (MM Wallet). Mobile Money or MM Wallet is one of the online payment. MM Wallet is a new feature from Mobile Money that will turn your mobile phone into an electronic wallet. It brings you superior convenience that allows you to shop cash-free, making remote payment & send money with SMS.

Linked to: http://www.mobile-money.com/

Mobile Money helps to reduce the bottlenecks that created by cash, cheques and credit cards. Users are only using mobile phone to make payments, allowing registered users to pay for goods and services at anytime, anywhere via SMS. This gives benefit to users to buy products online and pay the merchant using their mobile phone without being physically present at the store.

Therefore, mobile payment system is user friendly, it is safe and secure. User do not need to worry about the cheque or credit card handling problem and fraud, the system will conforms to the stringent requirement set by participating bank. However, mobile payment system also help user to avoid the trouble for long queues and looking for car parks. User can enjoy the super fast payment process by just make their transaction via SMS, website, or point-of-sale system. It helps user save up a lot of time. There are no minimum monthly transactions or no any rental fees required. Users only need to pay very low transaction fee compare to what actually charge to credit card.

In the conclusion, using MM Wallet, user can receive payments from Anyone, Anytime, Anywhere. It is very convenient and secure.

Credit Card debts: Causes and Prevention

Credit card debt is an example of unsecured consumer debt.Debt results when a client of a credit card company purchases an item or service through the card system. Debt accumulates and increases via interest and penalties when the consumer does not pay the company for the money he or she has spent. The results of not paying this debt on time are that the company will charge a late payment penalty and report the late payment to credit rating agencies. The late payment penalty itself increases the amount of debt the consumer has. When a consumer has been late on a payment, it is possible that other creditors, even creditors the consumer was not late in paying, may increase the interest rates the consumer is paying.

Now, I would to share some causes of credit card debt. First, with prices of goods and services going up and not the income, more Malaysians are forced to spend beyond their earnings. Thus, they will use credit card to purchase goods and services and unable to pay back the expenses. Lastly, with no savings, people can also be sucked into credit card debt by unemployment. They will use the credit card to cover basic living expenses and may found difficulties to pay back the amount.

Let me share some tips to prevention credit card debt with you all. First, if you find yourself making interest payments every month on your credit cards, the first step is to assess your income and expenses. Total your monthly expenses and subtract them from your income. This is your disposable income after expenses, and also the amount you have each month to use as you deter mine.

The next step is to stop charging items on your credit cards and pay cash for items you must buy. Then analyze your credit card debt, pay credit card debt with highest rate of interest in priority. Use your disposable income to completely pay off the card with the highest rate. Once that card is paid off, close the account and destroy the card. Then focus your attention on the next card, and do the same until all of the debt on your cards has been completely paid off.

Finally, just use one or two cards and use them as a financial tool. Remember that a credit card is not the same as free money. If you still have problem, leave you credit card at home while you are shopping.

Conclusion, credit cards should be used for emergencies only, unless you plan on paying the entire balance off immediately. Never pay the minimum amount due unless you truly cannot afford any more.

The application of 3rd party certification in Malaysia

Third party certificate is a digital certificate that is used to verify identity, protect personal data, secure websites and online shopping carts and more. Third party certificate also can be called Secure Sockets Layer (SSL) certificate. SSL is the standard security technology for creating an encrypted link between a web server and a browser. This link ensures that all data passed between the web server and browser remains confidential. SSL is an industry standard and is used by millions of websites in the protection of their online transactions with their customers. In order to be able to generate an SSL link, a web server requires an SSL Certificate.

When a customer wants to send the credit card information to purchase the item, the customer wants to know that the confidential information is secure and sent to the company. So, digital certificate that is issued by trusted 3rd party provides verification that the website does indeed represent your company, thereby verifying your company's identity.

SSL certificate plays an important role in online commerce. The first matter customers considered is the private information they provided is remained confidential. Once they satisfied their private information is secure, then only they will consider buying the product. So, it is important that the security is integrated into any online services.

The certificate is issued by the certificate authority. One of the certificate authorities in Malaysia is Trustgate. It is a licensed certificate authority in Malaysia since 1999. It also offers other services other than issuing SSL certificate such as delivery of security and e-commerce training, managed security services, application development and system integration.

The e-commerce or online services provides us a lot of benefits but there are risks in using them, so the SSL certificate is essential to give confidence to the customers that the websites that they are using are trustworthy.