Mobile payment systems in Malaysia: its potentials and consumers’ adoption strategies

Getting to know mobile payment systems!!!…..

Mobile payment system is considered a collection of money from consumers via mobile device such as mobile phone or smart phone. In addition, adoption of mobile payment systems was seen to be recognized and acceptable by many people, as it is actually convenient and useful for them to trade at any time.

Potentials

Nowadays, worldwide adoption of mobile payment system by Malaysian is increasing well. Using a familiar web payment model is beneficial for consumer since it consist of the benefits such as flow on sales and customer satisfaction is tend to increase as well. The mobile web payment allowed consumers to use web pages displayed on their mobile phone to make any necessary payment. The process is very quickly and less time consuming for any consumer who applied this advanced technology. Thus, every consumer seen to be more secure and convenient without worried for the payment securities.

Customer’s adoption strategies

Worldwide adoption of mobile payment system is served for several purposes. There are certain customer adoption strategies to develop the mobile payment system in Malaysia. A part from this, it must be easy and convenient for consumer to trade smoothly by using a mobile phone. The infrastructure and the process involved for making payment must be straightforward and improved to provide the convenient access to electronic payment. Otherwise, significant added value needs to be provided to the consumer in order to generate demand. Consumer would not to adopt new payment method if without provided of some significant added value such as cost saving. However, advancement of technology tend to lead to higher standard of living with the universal acceptance of mobile payment system in Malaysia.

Electronic commerce

Electronic money (also known as e-money, electronic cash, electronic currency, digital money, digital cash or digital currency) refers to money or scrip which is exchanged only electronically. One of the easiest ways to make money online today is to learn e-currency trading. Many people have spent countless hours looking for the perfect program that will make them a millionaire over night. The truth is, these programs do not exist.

Electronic currency exchange allows people to make a long-term investment that can yield substantial profits in years to come. Many users make their payments electronically rather than in person. Hundreds of electronic payment systems have been developed to provide secure Internet transaction. Some examples of electronic micropayment system that involved in electronic currency such as BitPass (shut down in Jan 2007), Firstgate's Click & Buy, Payloadz, Paystone Technologies, Peppercoin, etc.

One of the examples which are Peppercoins system must also be bulletproof to electronic problems. Take transaction speed, for instance. Peppercoin is working with one Web site that delivers 1,000 digital maps per second. For Peppercoin to handle that many purchases, and for buyers to get their content without waiting, the behind-the-scenes computations must happen in milliseconds.

In conclusion, electronic currency has made it convenient for the consumer to purchase goods and services using currency such as credit card without bringing any cash. This is not only lessen the possibility of being rob but also loss of cash. The implementation of electronic currency has not been fully accepted by the consumer due to internet breakdown, lack of skill and confidence and so on. However, once the electronic currency industry is able to ensure consumers that these transactions are secure and trustworthy, it will change the way we conduct our daily lives.

A review on a post on Internet Security from My E-Commerce blog.

http://ecommerze.blogspot.com/search/label/InternetSecurity,title-Identity theft: Cases on stolen laptops, hacking and lost CD that shows many cases in United States in 2006 and 2007.

From the seven cases, I found out that most of the thefts are targeting on hospital, school and university and sometimes some organization as well. They are more interested on the personal information such as their names, phone number, address and sometimes some more private and confidential information, in order to abuse these kinds of personal information. From the economy prospective-high demand lead to high supply, the thefts always targeted this kind o information, which means that this information are valuable to some party. They need this information to benefit them.

The causes of these cases most likely incur by human diligence and mistake, which means that people are not so aware and not very concern about internet security and information security as well. The hackers always hack into the system when there is a weakness in their internet security for instance cases in Hospital Ohio and University Of California.

Laptop also is the target since it is portable, enable the thefts easy to stole and carry. Another reason is more and more people using laptop to store information including personal information. However, the security on the information does not get attention from the users to protect their data while the laptop is being stolen.

As a conclusion, there is still have more space to improve the internet security and also information, however it’s still need the cooperation from the users to make it better.

The threat of online security: How safe is our data?

Now a day, many attack during online, What should we do??And how safe is our data?Two type of threat and attack of online security. That is nontechnical attack and technical attack.
What is nontechnical attack? An attack that uses chicanery to trick people into revealing sensitive information or performing actions that compromise the security of a network. Under nontechnical attack have social engineering. Social Engineering is a type of nontechnical attack that uses social pressures to trick computer users into compromising computer networks to which those individual have access.
How about technical attack? Technical attack is an attack perpetrated using software and system knowledge or expertise. The vulnerability is a mistake in software that can be directly used by a hacker to gain access to a system or network.Therefore, the exposure is a mistake in software that allows access to information or capabilities that can be used by a hacker as a stepping-stone into a system or network. The common ( security) vulnerabilities and exposures (CVEs) is publicly known computer security risks, which are collected, listed, and shared by a board of security- related organization.
Let more detail to know about the technical attack. Firstly, Denial-of-services ( DOS) attack, an attack on website in which an attacker uses specialized software to send a flood of data packets to the target computer with the aim of overloading its resources. Distributed denial-of-service (DDos) attack, a denial-of service attack in which he attacker gains illegal administrative access to as many computer on the internet as possible and uses these multiple computer to send a flood of data packets to the target computer. Malware is a generic term for malicious software. The severity of the viruses increased substantially, required much more time and money to recover.
There are so malicious software are under MALWARE. First, Virus is a piece of software code that inserts itself into a host, including the operating systems, to propagate, it requires that its host program be run to activate it. Next, Worm a software program that runs independently, consuming the resources of its host in order to maintain itself and is capable of propagating a complete working version of itself onto another machine. Following, Macro virus or macro worm as a virus or worm that is executed when the application object that contains the macro is opened or a particular procedure is executed, example a file is saved. MAcro worm is such as MAlissa and I loVE YOU. Lastly,Trojan Horse a program that appears to have a useful function but that contains a hidden function that presents a security risk.
After know about the nontechnical and technical attack, what will we do and what action to take to protect our data? How safe of our data?
TO prevent social engineering and phishing, we can did on education and training. All staff need to be educated about the risks associated with social engineering, the social engineering techniques used by hackers and ways to combat these attack. Hence, we can prevent in policies and procedures, there is need to be developed for securing confidential information,guiding employee employee behavior with respect to confidential information and taking steps to rspond to and report and social engineering breach. On the other hand, we also can did on penetration testing. That is policies, procedures and responses of individual staff need to be tested on a regular basis by outside experts playing a role as a hacker.
Although that, we also can apply or use some software to protect our data, such suggestion like Sarbanes-Oxley Act. This protection are most suitable for small and middler size company, because the cost is effective, subscription-based data protection services.
The above is the some protection and example for prevent nontechnical and technical attack.If you have more suggestion about it, can post it on comment..

Phishing : examples and its prevention methods

What is phishing?
Phishing is considered a scam which an attacker uses various of ways to entice you into divulging personal information such as social security number, account usernames and other personal information. Phishing schemes typically come either in email where the attacker will send victims an email purporting to be from a valid business. The email will attempt to coerce the intended victim into visiting a fraudulent website and entering their personal information. The information is then surreptitiously sent to the attacker who then uses it to engage in illegal purposes.

Examples of phishing:

http://www.bankrate.com/brm/news/advice/Phishing-email.asp





http://antivirus.about.com/od/emailscams/ss/phishing_7.htm


How to prevent phishing?

While these attacks are always changing and becoming more sophisticated, thus following are the few methods that can help in protecting people from phishing scams.
· Do not respond to request for any personal or financial information through email. Most legitimate businesses will never ask for passwords, credit card numbers, or other personal information in an email. So you should be able to reject this kind of email if there is an email where requesting the relevant kind of information. However, you can contact the company to verify the legitimacy of the request if you are in any doubt.
· Visit website by typing the URL into your address bar. If you want to check the institution’s website, do so by typing the address into your web browser rather than clicking a link in email. You must be careful as even the address bar displays the correct address, because there are several ways for hackers to display a fake URL in the address bar on your browser.
· Review your credit card and statement routinely. There is no guarantee regard from this as you may still become a victim of identity theft. Due to this situation, the effective way you should take is check credit card and bank statement at least monthly to stop the attacker before they cause significant damages.
· Report suspected of personal information to proper authorities. You must immediate to report the scam to the company that’s being spoofed. Visiting the company's Web site to get the correct contact information and the company may have a special e-mail address to report such abuse.

How to safeguard our personal and financial data?

“Personal Financial Information” means any record containing a customer of a financial institution, whether in paper, electronic, or another form, that is handled by behalf of the institution or its affiliates. Here are a few approaches on how to safeguard our personal and financial data:
(a) Do not reveal any personal information or particularly passwords to anyone. After using any of the Financial Data Center or member services, must remember to log out properly before leaving the Financial Data Center.
(b) If share information with another user or use our services on a public computer such as in a public library, school computer lab or Internet cafe, must remember to close the browser window. That is to prevent other users from reading your personal information and mail.
(c) Avoid using passwords that are easy for someone to guess, such as the name of your favorite pet or your date of birth. Never write this information down and never carry it in your wallet or briefcase.
(d) Install antispyware and antivirus software. Symantec, Norton and AVG antivirus are popular software use by computer users. Its clean computer and protect personal information, financial data and etc.
(e) Web owner can use access control mechanism which limits actions that can be performed by an authenticated person or group. It determines who can use the network resource and what resource can be used.

All people should cooperate between each other to prevent reveal our own or consumer personal and financial data. Please call 1-888-672-9116 if you have any questions.

Identify and compare the revenue modal for Google, Amazon.com and Ebay

Do u know what is the revenue modal for Google, Amazon.com and eBay? I think those of you only know to searching information on the google, amazon.com eBay, the basically doesn't know detail about it.
First, let start with Google. The revenue modal for Google is offer advertising solution and global internet searching. The principal products and services of Google is includes Google Adwords, Google Absence etc. It is almost 99% are generated from advertising and remaining of the 1% revenue was resource from licensing. What is Google Adwords is a pay per click advertising program of Google designed to allow the advertiser to present advertisements to people at the instant the people are looking for information related to what the advertiser has to offer. Google generate most of the revenue from google adwords. In year 2005, google launched the Google publication Ads program through which are distribute advertiser's ads for publication in magazines.
Second, is about Amazon.com. It is major companies to sell goods by internet. The primary sources of Amazon.com is to sales of a wide range of product and services to customers. Amazon.com are provide some products offers on their website included merchandise and content have to purchase for resale from vendors and products offers by third parties. It's mean that Amazon.com revenue are from transaction.
Third, is talk about eBay. This website is an online auction and shopping website in which people and business buy and selling goods and services worldwide. It is rather some a same feature as Amazon.com. But eBay doesn't take possession of the goods, it is acts as a broker for buyers and seller a takes 6% off the top. It is incurs none of Amazon's distribution cost. The major revenue of the eBay is from fees such as fees to list and item, picture services fees, listing upgrade fees etc.
From the above information told that, there are totally difference revenue modal for Google, Amazon.com and eBay. Although, there are adopted e-commerce.
The differences of the Google is adopting an advertising revenue modal. Which the website are offers content, services and products, not also that it's also provide a forum for advertisement. How about Amazon.com, they is a sale revenue modal which is the company derives revenue by selling products and services to customers.
The last, is eBay they are company that receives a fees for executing transaction, it's mean that eBay is using transaction revenue modal.
The above is the identify and comparison of Google, Amazon.com and eBay of the revenue modal.

An example of an E-commerce success and its causes

One of the examples of e-commerce success is eBay.com. It is an online auction and shopping website which allow people trade goods and services anytime across the globe. eBay is managed by an American Internet company called eBay Inc and it was found in San Jose, California, USA by French-born Iranian computer programmer Pierre Omidyar.
The primary objective of an E-Commerce application is to reduce costs, increase customer service levels and company profitability. It cannot deny that eBay has achieved this target since they are able to manage enterprise as well, between developed a friendly and warm informative environment to produce a strong basis of market knowledge.
eBay is considered a very large market portion which consist variety of items to be traded every day. There are actually more than 2 million new items are added to the eBay marketplace, more than 10 million bids are placed, and more than 100,000 people to trade with others through eBay. It is demonstrated that eBay being a wider market which is interested and accepted by wide range of people.
e-Bay enable to introduce new and unique products to keep the customers coming back as there is no entry barriers on the Internet. The auction online items are organized well according to appropriate categories, which allow buyer and user can trade with others easily and search for the necessary items in order to achieve their satisfaction.
eBay trust and safety team is contributed a reliable place to trade. In addition, it also provide guaranty between each user to buy and sell with confidence. A part from this, eBay became successful when it reached globally to hundred thousand of people enabling them to make a business of their own. However, buyer and seller to have more chance to trade when they visit this large market portion in order to achieve their satisfaction.
Therefore, eBay is a great place to sell, also is a right choice for you.

An example of E-Commerce failure and its causes:

EToys.com is one of the top 10 dot-com flops. EToys.com was launched in 1997, it was founded by the CEO, who name Toby Lenk, COO Frank Han and Idealab Founder Bill Gross. EToys seem like the best idea for those busy parents; it offered them a chance to order thousands of toys in every catergory from the comfort of their homes. Beside that the site also had fun features, the features including gift recommendations by age and and information about popular characters, from Madeline to Barney. Etoys also has won a praise for its site design and had technically sophisicated warehouses and fulfillment operation. In 1999 during the Christmas, EToys was suffered a black eye because it failed to deliver some order in time. The first impression for new customers was ruin because of this, and people were worry of using the site again. In August 2000, the Toys"R"Us and Amazon.com has formed a partnership, it put Etoys into risk. EToys went into liquidation in March 2001, Because run out of money and other funding options exhausted.

One of the causes of the EToys.com failure in e-commerce is because of ineffective customer service or misinformation about products and services, example like the failed to deliver the order on time would destroy the image of the company, and the first impression of new customers. Customer will not feel confidence and afraid to use the site again. However, the negative response from customers is also another cause which will lead the dot-com filed into bankruptcy in E-business. This is why the reputation of a company is very important, once it is ruined; peoples will loose the confidence in such company again.

In order to avoid the failure of an e-commerce company, useful of business strategies, and effective, strong organisational, and customer relation policies to meet the demands of its valuable customers are the key elements of the successfulness in e-commerce.

The History and Evolution of E-commerce

Nowadays, E-commerce is becoming very famous in business field. It gives an alternative way to has dealing between sellers and buyers. It’s give convenient to seller and buyer to have online shopping. This is the beginning of the “Click and Mortar”.

The history of E-commerce begins in early of 1960 by having the Electronic Data Interchange (EDI). The purpose of EDI is to exchange business information and do electronic transactions in that time. However, it’s still unable to help the companies to interact with each others. In 1984, a greater standard- ASC X12, it increased the stability and reliability of the business transaction.

The next major step occurred in 1992 when the Mosaic web-browser was the first ‘point and click’ browser. The Mosaic browser was quickly adapted into a downloadable browser, Netscape in year1994, which allowed easier access to E-commerce.

But in early 1992, CompuServe offers online retail products to its customers. This gives people the first chance to buy things off their computer. However, in 1995, was the beginning of two giants of online transaction company, which had take the E-commerce to another big step, there are Amazon.com and Ebay.com.

The development of Digital Subscriber Line (DSL) in 1998 was another key moment in the development to of e-commerce. DSL allowed quicker access and connection to the Internet also cause the E-commerce to be more used worldwide.

Until today the largest electronic commerce is Business-to-Business (B2B). Businesses involved in B2B sell their goods to other businesses. In 2001, this form of e-commerce had around $700 billion in transactions.

MORE ABOUT ME.......

Ermm...my name is Ho Kuan Lien. My hometown is located at Perak. I actually came from a small village called Kampung Chui Chak. Even there is a small village and far away from Kuala Lumpur, but for me, there is a peaceful place where i grow up. After i finished my diploma level at TunkuAbdul Rahman College at Perak branch,i am currently continue pursuing my degree level at University Tunku Abdul Rahman, undertaking the course of Bachelor of Commerce (Hons) Accounting. Even i feel some difficulties for me to study this accounting course, however, it seen to be a new challenge for me to complete my degree level.
My hobbies is travelling. Even my family members and friends are alway busy for their job,but we alway managed to find time planning for trip. Although there is a difficulties when matching a right time ,but there is the only chance we can gather together. That is why i felt excited and appreciated it very well when everytime i go to travel with them.

The 5 websites that i visited most are:
1. http://www.friendster.com/, where i can view my friends photo to have a look for their recently handsome and beauty face. Besides, i also use it to upload the photo that i prefer so much.
2. http://www.google.com/, it is actually useful for me to find out the necessary information especially when i am conducting my assignment.
3. http://www.hotmail.com/, i alway visit to this website as it seen to be convenient for me to check and send the email anytime.
4. http://www.utar.edu.my/ , where i alway login to check whether there are any latest information that we need to pay attention.
5. http://www.youtube.com/ , i visit this website to view any interesting video clips that i prefer.
The top five activities that i have learnt consist of:
1. watching movie
2. searching for available information
3. chatting with friends via email
4. viewing photo in friendster
5.messaging through msn

Hopefully i can share more information with the creation of this blog. Thanks...

Get to Know Me!!!

Hi Guy! I am Lichian here , this is my first time create blog and involving in blogging activity. This blog is for the purpose of the E-Commerze subject's assignment.I am now still 20 years old and still have one more year to be graduated. I am now taking Bachelor of Commerce(Hons)Accounting in UTAR Hope yours can get through my group blog, and here is very welcoming for comments.

My hobbies including sleeping , eating, watching movie, sometimes even Japanese Cartoon but most of the time watching Hong Kong drama( but i think these all are common hobbies among student!). As a conclusion , my hobbies including everything except studying and memorizing. Following is my Top 5 websites:

• www.friendster.com, everyday i will surf friendster website in order to know my friends latest news, photo and even can get to know more friends.
• wble.utar.edu.my, this website is for me to get the tutorial question, lecture notes and sometimes midterm result as well.
• www.sinchew.com.my, the online sin chew daily can give me the latest news and can also get to know the historical information.
• www.google.com. i normally use Google search engine to search for articles, journals and information.
• www.yahoo.com, i use this website to check for my mail.

Internet Activities

1. blogging
2. downloading music
3. chatting
4. uploading
5. search information
   

I'm jeslyn

hi hi..my name is jeslyn khoo..im taking Bachelor of Commerce (HONS) Accounting in UTAR which is placed on sg long..im actually doing this blog for the purpose of my e- commerce assignment...very happy that i could do this blog with my another three group members..they are li chian, kuan lien and annie...Usually i like to watch hong kong drama, cleaning my house(if i feel free), read and study(when there is necessary)...hahahahaha..im quite enjoy with my life but sometimes abit stress while all the assignment come together..

(i) my favourite website are:
(a) http://www.hotmail.com/ , i like to surf this website once i access to internet because i can check my mail and get the most advanced information from my friends..
(b) http://www.friendster.com/ , this website is the most popular surf website for the teenagers in this world..we can meet many new friends throughout there..
(c) http://www.google.com/ , i like to access to this website because i can search as much information as i can..
(d) http://www.youtube.com/ , i prefer this website because i can watch the most recent news, music, and movies around the world..other than that, we can upload our movie to this website and share among my friends..
(e) http://www.utar.edu.my/ , i like to surf this website because i can check my past year examination, exam results, timetable and many many more..this is the most useful website to all utar student as well..

(ii) my internet activities are:
(a) watching drama
(b) listen to recent music
(c) chit- chatting with my friends
(d) search for the information in doing my assignment and
(e) get the most advanced information from internet
That's all for my personal introduction..

Profile of me-Annie Yong

How to introduce myself?My name is Yong Sweat Feng and can call me Annie. Erm..Just a normal gal, but 1st impression for people is the gal so cool and will not familliar. That is the 1st impression for other people look for me. Actually, me is a girl like to share story with my friend and interested to meet new friend. Not only that, i also like to travel, the favorite place to visit is Hong Kong, i like this place so much, because there have nice view during at night and also is a good place for shopping . It is good place for gal to shop..Are u same idea with me. Furthermore, read novel and watch hong kong drama also is once of favorite hobbies for me. When i free, reading and watching hong kong drama is the best time for me to spend. At the most of the people now, like to watch drama online, because it is save cost, although we as a student not to much pocket money to lent CD or buy DVD.
Following, this is me 1st time to try post blog, have this opportunity to post blog, because of the subject of e-commence. This subject are giving me, the chance of have own blog and can publish story by ourself. That is quite interesting for me, because i can share my story with friend, who those interested.
So, the website that alway log in like
1.www.friendster.com
2.www.hotmail.com
3.www.facebook.com
4.www.youtube.com
5.www.yahoo.com
the above website are alway log in by me, that is the favorite website for me to
1. downloading
2. checking
3.watching
4.searching
5.listening
That all about me......