Mobile payment is a system that direct or indirect transaction conducted and facilitated through a wireless telecommunication network. It collects money from users by mobile devices. Mobile money is one of the examples of mobile payment system in Malaysia. It is a payment service that allows users to TAP to pay by using MM card and SMS to Pay by using mobile phone with their account. In Malaysia many users purchase digital products (eg.E-books, ringtones, and games) by GPRS/WAP or SMS through their mobile phones. Recently, M-payment is rapidly developing in Malaysia. Many users are prefer to use mobile payment rather than other alternatives (eg.cash, credit card and cheque).
The potential of Mobile Payment System are it is very convenience and saving cost. Users can make transaction cashless and without need to visit a bank. Mobile phone is a new and powerful channel to developing business. It can attract youth segment to using the system rather than using those traditional channels because they are early adopters of technology. Nowadays, mobile phone is become one of the most important necessities in our life. So, M-commerce is very easily accepted and adopted by many peoples. The security of the mobile payment system will be the most concerned issue by the users. The issue will decide the development of m-commerce in Malaysia.
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