Mobile Money and MM Wallet

This is a summary from an article in TheStar (20th June 2006, page B7)

Mobile Money International Sdn Bhd launched the MM Wallet which enables users to conduct transactions via short messaging service (SMS) by personal identification number (PIN) authorisation using a mobile phone.

The technology took the company about four years to develop at a cost of RM4mil to RM5mil, and Mobile Money was currently applying for a worldwide patent.

Mobile Money is the pioneer of mobile payment using mobile phone in Malaysia. Currently Mobile Money has teamed up with Hong Leong Bank Bhd and Bumiputra-Commerce Bank to allow consumers to make payments via their bank accounts linked to their mobile phones but Mobile Money is keeping its options open for tie-ups with other banks.

Users could send cash to anyone, pay merchants, buy Telekom Malaysia Bhd's (TM) iTalk card, Celcom and Maxis reload cards, pay Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) water bills and soon, other utility bills and bus tickets, by just replying to an authorisation PIN to make payment. There are 13,000 merchants linked with Mobile Money.

Mobile Money is targeting 1 million Malaysian mobile phone subscribers to use the MM Wallet. It believe that sending cash via SMS will eventually become a daily way of life for many in the very near future.


Previous entry on Mobile Money
Mobile Money aims for 100,000 vendors.
G-Cash - Mobile payment systems: The Philippine's Experience

Contact-less payment card launched

Taken from TheStar, 10 February 2006, page B2.

This news article discussed the launching of the contactless payment card, Pay Pass by MasterCard, a payment method beside the EMV card which was introduced since last year.

This article is related to Lecture 5 - Electronic Payment Systems.

MasterCard unveils contact-less payment card

By SHILING WOON

KUALA LUMPUR: MasterCard International has launched the world's first globally interoperable contact-less payment card, PayPass, to enhance the efficiency of payment solutions in Malaysia, said vice-president and senior country manager Malaysia and Brunei, Jim Cheah.

The dual-interface contact-less Europay-MasterCard-Visa (EMV) payment solution combines both contact and contact-less interfaces on one chip to widen the usage of the card internationally.

“PayPass is all about convenience and speed whereby cardholders only need tap on the payment terminal to complete a transaction. We are optimistic about the take-up rate in Malaysia as the card's unique features will attract cardholders' interest,” he said after the launch of the MasterCard PayPass yesterday.

Currently, the card is available in the US, Thailand, Taiwan, Japan and the Philippines.

“MasterCard International intends to expand the PayPass service to more countries to increase the usage of the card globally,” Cheah said, but declined to elaborate.

Malaysian merchants that accept the PayPass card include Carrefour, KLIA Express, Starbucks Coffee, P & Co and Vincci.

Financial institutions such as MBF Cards (M) Sdn Bhd, RHB Bank Bhd and Southern Bank Bhd are currently issuing credit cards with the new feature.

“This indicates that issuing banks, merchants and cardholders are seeing the benefits of PayPass and that the idea of tap and go is certainly compelling,” he added.

G-CASH - Mobile Payment Systems: The Philippine's Experience

A very successful application of Mobile Payment Systems using SMS in Philippine. Information displayed is from the official website of the G-Cash.

This story is related to Lecture 5.

G-CASH: Bringing Philippine schools into the m-commerce era

With the introduction of G-Cash, the world's first cashless and cardless mobile commerce service, Globe has brought m-commerce to the Philippines. Now, Globe brings G-Cash to the country's schools and encourages young students to explore the service's limitless possibilities.

G-Cash transforms cellphones into mobile wallets, allowing Globe subscribers to make payments or send remittances, all with a simple text message. It is already accepted as payment in various establishments like fast food chains, bookstores and drugstores. Now accredited by the Bureau of Internal Revenue, G-Cash can be used as a means of payment for renewal of business licenses and income tax.

Early this year, G-Cash won the first award for Best Mobile Messaging Service at the prestigious GSM Association Awards in Cannes, France. Just recently, it won the Most Innovative Mobile Operator Service at the Asian MobileNews Awards in Singapore and was also chosen as the Best M-Commerce Application or Service at the Global Messaging Awards in London.

Questions:

1. Why G-Cash can be successfully being implemented in Philippine?
2. How does this method can be transferred to Malaysian context?
3. Can Mobile Money fulfilling it's promising role in promoting mobile payment in Malaysia?

Mobile Money aims for 100,000 vendors

Mobile Money, offering pay from where you are which your mobile phone, iss currently hopes to boost the number of merchant partners for its mobile payment system to 100,000 by year-end, from 7,000 currently.

The company is also targeting for its user base to reach one million by year-end too.

Shoppers visiting the vendors' outlets will, among other things, be able to pay for their purchases via mobile phone, as long as they have

1. a mobile credit card account with Hong Leong Bank or
2. a saving or current account with Bumiputra-Commerce Bank.

Why using Mobile Money?

• Secure
• Convenient
• Rewarding

You can view the benefits of the Mobile Money from its website.

This topic is related to the Electronic Payment Systems (Lecture 5)