01.14.08
Mobile Payment in Asia Pacific
An interesting white paper titled Mobile Payment in Asia Pacific by KPMG.
Maxis M-Money, Digi Remit and Mobile Money are mentioned in whitepaper. But wait… something missing in picture, where is mobile wallet?? never mind…
This is how they describe Mobile Money
An interesting twist on the payment gateway model has been provided by Mobile Money International (MMI), a small Malaysian company that focuses on enabling m-transfer functions (limited m-banking or m-wallet services). This is in contrast to the early Korean PG provider focus upon content and downloads – perhaps reflecting the more conservative, less digitally aware make-up of the Malaysian market. MMI’s transaction processing fee is between 1.0 and 1.5 %. in contrast to the existing bank rate of 1.8 to 3.0 %. By 2007, MMI had some 12,000 partner merchants. The largest partner merchant is Tenaga Nasional Berhad (TNB), Malaysia’s main energy provider, however, the vast majority of the merchants are small.
They are calling a RM 15 million seed-capital company a small company? Hmm… then most bootstrapped startup would be a pico company. Anyway, i think as far as KPMG is concerned, whatever company with turnover less than 1 Billion USD is considered small.
Read more by downloading the pdf file below
Mobile Payment for Asia Pacific – A study by KPMG
We personally think that Mobile Money is a great boon for e-commerce. It assures the merchant that the order is almost fraud-free. Thus it will render our Fraud Alert System (check out this innovative features newly introduced into webShaper e-commerce) useless.
I need to highlight that what Mobile Money is doing is NOT easy, they are trying to change the way people pay for goods and services and their biggest enemy is no other than the Status Quo.
Also adding to the tough challenge is, i think they have a tendency to complicate things – (Tell me what you think after you check through the slides, do you feel like signing up?) In my opinion, if you were to have mass adoption for your products and services, especially in the consumer field, you really need to make your stuff as simple and as no-brainer as possible.
Just like for software, people don’t like to check out documentation and if your stuff just works as they predict, they are happy! (and they think your stuff is good and this is where WOM starting to spread like wild fire) That’s why we are now working on Flash Demo for webShaper! Stay tuned!
Others related news on the Internet
Digi & Citi Malaysia Offer SMS Global Remittance Service
http://www.citigroup.com/citigroup/press/2007/071004a.htm
http://biz.thestar.com.my/news/story.asp?file=/2007/4/13/business/17425951&sec=business
Maxis M-cash in Maybank2u
http://www.maybank2u.com.my/maybank_group/products_services/others/m-money.shtml
http://biz.thestar.com.my/news/story.asp?file=/2007/5/8/business/17656075&sec=business
Hey, we are working hard to improve it. Don’t we call it 
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