Monday, February 16, 2009

Mobile Payment Systems in Malaysia: Its potentials and consumers' adoption strategies

system is an innovative and revolutionary breakthrough mobile commerce solution that offers the conveniences of cash-less and card-less shopping, as well as making remote payments via any mobile phone, where financial and merchandising transactions are done at the touch of the fingertips.

It is suitable for the masses as it is a mobility redemption system that not only helps improve efficiency and convenience; it also enhances productivity and faster turn around time. Basically anyone can use MOBILE WALLET as if it is a cash or debit card.

Users can use their MOBILE WALLET (activated as an account) immediately after they have registered their SIM-card number and activated it. Prior to that they would also need to top up their MOBILE WALLET with a minimum of RM10 which will then be converted into *MW10 (MOBILE WALLET e-money currency) . RM1 = MW1

The differences between of MOBILE WALLET, debit and credit card


Debit Card

Credit Card

Instant top-up, instant spending.

Spending directly deducted from your account.

Spend first, settle payment later.

Instant checking balance through mobile phone.

Need to make sure account has enough money before spending.

Keep spending without worrying account balancing.

Enjoy shopping and manage to control spending budget.

Always worrying account balancing can’t cover shopping expenses.

Overspending and increase debt.

"Pay bills through your very own mobile phone, via SMS." That is MOBILE WALLET’s concept. An *instruction guide booklet (obtainable through all MOBILE WALLET Kiosks and MOBILE WALLET Agents) will provide the comprehensive SMS-codes for making payments to various products and services.

Alternately, one can use MOBILE WALLET’s very own mWiz program downloadable through the website at and straightaway make payments with the most intuitive and easy to use program. *Only in the Klang Valley.

Minimum top up for MOBILE WALLET is RM10 which will then be converted into *MW10 (MOBILE WALLET e-money currency), with a maximum top up limit of *MW200. A nominal charge of * MW0.50for each and every successful transaction. Users can top up at Kiosk, Maybank, Ambank and through e-pay.

To cash out existing/balance MW money:

a) Sending an SMS command(please refer to the guidebook) and activate the cash-out option, Or

b) Cash out by logging into one's MW-Account online and initiate cash-out payment via direct bank-in into his or her account of choice. There will be a 7-days grace period for the processing of payment and a nominal fee of 2% will be charged from one's MW-Account upon successful transaction.

For Mobile Wallet users:

1) To preview or get your latest transaction record, you can log on to the website at and login with your registered MOBILE WALLET account (your mobile phone number), with your provided security code and PIN number.
2) You just need to type in MW OWNPIN send to MW Gateways if you have forgotten your security number or pin code. You will get your security number and PIN code in less than a minute.
3) If you lost your mobile phone, you may call the Customer Care Line at 603-9205 5550 / 603-9205 5551. They will assist you to solve this problem.
What is MW Gateway?

The MW Gateways are numbers that call corresponds to user mobile phone Telco numbers (namely 012, 016, 019) .

The MW Gateways are:
6012.676.9093 / 6016.331.9093 / 6019.278.3039

Mobile Wallet users are able to make payments wirelessly for purchase(s) or service(s) immediately anywhere at anytime from anyone to anyone. With no doubt, it is very convenient and easy to use. For further information, please visit

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