Malaysia's First Mobile Payment Service
KUALA LUMPUR, November 20, 2001
- Systems@Work has just launched TeleMoney, the first mobile payment service for Internet and wireless transactions in Malaysia.
consumers in Malaysia can enjoy a secure and convenient way to
conduct Internet and wireless transactions simply by using a GSM mobile
phone and a secured TeleMoney Personal Identification Number (PIN) as
electronic identification for transactions.
eliminates the need for consumers to reveal their credit card details
every time they make a purchase, and because this service is both
bank and telco independent, a consumer holding on to a credit or
debit card from any bank with a GSM phone on any telco's network
can register for this service. (Refer to Annex 1 on how TeleMoney works.)
of the Ministry of Finance Dato' Chan Kong Choy, who graced the
launch of the service said, "With Malaysia's drive towards a
cashless, knowledge-based economy (K-economy), the
introduction of this secure and convenient mobile payment
infrastructure will not only help boost the national effort to introduce
innovation into how we work but also how we live."
He added, "It will open new avenues of business opportunities, helping companies to compete internationally and offer new services to a new generation with different consumer behaviors and preferences."
"To kickstart this service in Malaysia, we have forged two significant partnerships, with Hong Leong Bank (HLB) and Celcom," said Mr Ng Fook Sun, CEO of Systems@Work.
He said, "Our aim is to offer our partners simple, scalable systems that they can adopt easily with little infrastructure cost and hassle. With our "plug and play" business model, we are confident of building a mobile payment system that will be the catalyst for the growth of Internet and mobile commerce in Malaysia."
Hong Leong Bank is appointing Systems@Work as its master merchant, with the agreement to act as a payment bank for Systems@Work operations in Malaysia, Systems@Work and Hong Leong Bank will also explore a series of mobile and electronic payment services that is feasible to be introduced to bring about greater convenience to the customer and security to both the bank and its customer.
"Celcom's collaboration with Systems@Work is an integral step in the company's efforts and commitment to bring greater convenience and mobility to our customers. We are tremendously excited about the potential of m-commerce as we have established a solid infrastructure that can be built upon to support the next evolution of the communications industry," said Bistamam Ramli, Group Executive Vice President, Celcom (Malaysia) Sdn Bhd.
According to Bistamam, TeleMoney is a system that gives both suppliers and users the confidence that their transactions are secure. Celcom believes that this partnership will open new doors for the company to rapidly create new and innovative mobility solutions that will further enhance customers' lifestyles.
Endorsing this strategy, businesses have already started to leverage on TeleMoney to deploy new services to their merchants and consumers.
For example, readers of the TeleClassified service of the China Press can now enjoy the convenience of using their mobile phones to authorize payments when they place classified advertisements over the phone.
Other industry players who will be offering end-to -end Internet and mobile commerce solutions through TeleMoney include:
· Cordoda Corporation Sdn. Bhd, a leading new class network service provider and e-business enabling solutions provider, will be offering special E-Business specially catered for the small and medium industries (SMIs) through TeleMoney.
· Nanyang Online will be offering TeleMoney solution as part of their new RedHot initiative for their members and merchants.
· Xchange.com.my a leading portal for SMI will be offering TeleMoney to all the participating SMIs. More than 200 SMI have signed-up to use the TeleMoney service.
· HP Mobile e-services Bazaar will be working with Systems@Work to deploy
mobile e-services applications like mobile commerce through the Bazaar's
ecosystem members such as the technology and applications providers, system
integrators and service providers. HP's vision of "living life in motion"
shall include such applications as Payment of Car Parks, Mobile Topping of PrePaid Cards, Ticketing, and Transportation such as taxi and bus rides.
Said Kelvin Tan, Director, Mobile e-services Bazaar, Asia Pacific, Hewlett-Packard, "As mobile payment gets increasingly more commonplace in Asia, HP will extend its infrastructure, capabilities, information appliance leadership and mobile e-services expertise to make the vision of a wireless future a reality for all."
This patent pending service was launched in Singapore in early 2001 and has since been acknowledged as the emerging standard in mobile payment for Internet, wireless and proximity payments. The Infocomm Development Authority of Singapore (IDA) recently awarded a consortium formed by Systems@Work (consortium leader), Gemplus, HP Mobile e-Services Bazaar, VISA and Suntec City to deploy TeleMoney nation-wide for mobile payments in Singapore.
Going forward, with the implementation of this mobile payment infrastructure in Singapore and Malaysia, Systems@Work plans to roll out its services to Hong Kong, Korea and Japan in the coming months.
Merchants and partners can sign up for this service directly at www.telemoneyworld.com
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