Review on a local, transactional e-commerce site

SHOPPY.COM.MY is a guide to Malaysian Online Shops. In colloq, Shoppy.com.my is abounding with shops. The objective of Shoppy.com.my is to provide a reliable and trustworthy platform for online shoppers and web stores to connect with each other.

First of all, I noticed that this e-commerce site has its own logo as shown above. The fundamental of a successful site is the site has its own logo to identify and easily remember by customers. On the other hand, An ‘S’ is in a shopping plastic bag, which clearly signify that “this is an online shop”. Also, logo conveys us that Shoppy.com.my is a web store directory.

Furthermore, Shoppy.com.my contains a few tabs or links to another section in the homepage, such as clothes for kids, baby girl clothing, clothing shopping, diamond jewelry and baby shower. It also provides a search engine that navigates users over the site which squeezes various categories such as computing, health care, pets and the like. Following is the screenshot from the site:

A title “Recently Listed Malaysian Online Shops” gives a reference to the users regard to the latest popular websites visited by users has included Shoppy.com.my. Consumers can identify the latest information in fashion, entertainment, jewelry and etc. Therefore, consumers will be attracted to Shoppy.com.my. Moreover, new product will be announced throughout the site timely. Online Offers, Promotion Codes, Sales and Events also posted in the site.

When the item is being selected or clicked, detail information about the item will be shown without having the information seeking hassle. It provides the important details such as the payment, delivery area, delivery options, product description (features and screenshots). It also shows the preference rate ranking by the customers Yet, we cannot entirely rely on the rate because it is not certified.

http://www.shoppy.com.my/

Electronic Currency

If this is true that money makes the world go around, does the world spin faster when money can circle the globe in a fraction of a second? “Money” itself a combination of factors, such as coins or paper, negotiable bonds, and now bits of data residing on computer servers or pulses of light pulses through fiber-optic network. Electronic currency (also known as e-money, electronic cash, electronic currency, digital money, digital cash or digital currency) is a script or money which only exchange electronically.

Most money in today’s world is electronic, and tangible cash is becoming less frequent. As a result of the use of internet / online banking, debit cards, online bill payment and internet business, paper money has become a thing of the past. Banks now offer many services to enable customers to transfer funds, contribute to their retirement plans (such as the Canadian Registered Retirement Savings Plan), purchase shares and provide various other services without having to handle physical cash or checks. Customers do not have to wait; this provides a lower-hassle environment. Furthermore, debit cards and online bill payment can immediately transfer funds from the personal account to a business’s account without any actual paper transfer of money. This provides a great convenience to consumers and businesses alike.

Although there are benefits points to digital cash, there are also significant weaknesses. These embrace fraud, failure of technology, as far as possible to track the loss of personal and interpersonal. Indeed, fraud over digital cash has become a pressing issue in recent years. Intrusion to bank accounts and bank records has led to a broad invasion of privacy and has promoted the identity theft. Moreover, there is also an imperative issue regarding the technology involved in digital cash. Power failures, loss of records and undependable software often cause a major setback in promoting the technology. Privacy issues have also been raised; there is a fear that the use of debit cards and the others electronic currency will lead to the creation by the banking industry of a global tracking system. IT researchers are working on anonymous electronic currency to try to address this privacy question.
Whilst there are continued resistances, many consumers enjoy the benefits of electronic currency. Yet, fraud, hacker, privacy and the like problem need to be resolved and provided the additional safety precautions.

http://www.kentlaw.edu/honorsscholars/2002students/jhsp.html
http://en.wikipedia.org/wiki/Electronic_currency
http://www.solarnavigator.net/venture_capital/electronic_money_transfers.htm
http://www.chicagofed.org/publications/electronicmoney/electronicmoney.pdf

The application of third party certification programme in Malaysia

Nowadays, trust is considered the primary concern if entering into the new internet economy. The ever-changing paradigm of e-commerce requires a well-mandated security infrastructure. Certificate authority (CA) is an authority in a network that issues and manages security credentials and public keys for message encryption. If the registration authority verified the information, which provided by the requestors, CA can then issue a digital certificate.


In Malaysia, any organization that wants to communicate securely with their customers should subscribe to the DIGISIGN™ SERVER ID Enrich, especially if the organizations require their customer to submit confidential information (such as credit card number, identity card information and the like) online. Moreover, the Server ID Enrich helps to protect the customers against falling victim to impostor web sites as it provides proper mean to verify the legitimate owner. Example of web operations that could benefit from the use of the digital certificate includes online financial institutions, banks, government web sites, online merchants, and universities or colleges. The features are as follow:


1. Strong Encryption: Digicert’s Server certificate ensures that the organization’s Web site visitors will receive powerful 128 bit up to 256 bit encryption. Protect information submitted online via SSL. Any confidential Information submitted between the organization and their customers (e.g. Credit Card Number) will be encrypted thus keeping them private.


2. Web Site Authenticity: It provides the ultimate in credibility for the online business. DIGICERT The most reliable infrastructure and stringent authentication practices back each DIGISIGN™ SERVER ID Enrich issued by DIGICERT.


3. DIGICERT Reliance Protection Plan: For your peace of mind, DIGICERT protects users against economic loss resulting from wrongful issuance of DIGISIGN™ SERVER ID Enrich.


4. Quick registration and Delivery: DIGICERT will be able to issue your DIGISIGN™ SERVER ID Enrich in less than 24 hours.


5. Legal Recognition: Digital Certificates issued by DIGICERT is in compliance with the Digital Signature Act 97 and Digital Signature Regulations 98.

The application of third party certification programme has become prevalent although complex. It provides a sound and robust risk management framework which held accountable for controlling and managing e-commerce risks and security posture.


http://searchsecurity.techtarget.com/sDefinition/0,,sid14_gci213831,00.html
http://www.digicert.com.my/expresslink02.htm

Corporate Blogging: A new marketing communication tool for companies

The Webster's dictionary defines a Web log as "a personal chronological log of thoughts published on a Web page." Blogs are subscribed by millions of users and even companies nowadays are looking beyond to blogging as communication media with stakeholders. It has said to be ‘the revolutionary new way to increase sales, build your brand and get exceptional’ (Wright.J).

The reasons are:

1. It encourages dynamic communication with customers

Interaction with customers can build trust of them towards company. When the company posts its information or shares their knowledge informally, customers will be more attracted to comment or reply to it. Therefore, employees deal with those comments or replies appropriately to those comments or replies will strengthen relationship between company and customers and build a trust in between. Besides that, vibrant interaction with recent customers can attract prospective customers. As blogs is conducted informally, bloggers (prospective customers) interested in the discussion topic are tend to attracted to actively participate and view company’s blogs pages. Hence, they are exposed to more company’s information if visit company’s blogs regularly.

2. Allows real-time communication with customers.

Blogs post can be reaching to each others right after it is published depends only on participants decide whether to delay responses. Company can get and give responses to and from customers instantaneously. These have increased the communication volume and thus mutual mindset could be created throughout the conversations. If response via e-mail, the process takes more steps and contain time lag which will discourage the participation of customers.

3. It offers a more open medium of communication.

A blog is the time of one person, jotting down his or her thoughts. Participants can voice out their thinking about company or their surrounding through blog post. For example if company intends to test the marketability of its new product, introducing through blog post and getting feedback from customers are valuable to determine the performance of the new product in market. Besides that, feedbacks also generate a space of advancement for that particular product or other products of company.

In order to attract participants attention, a blog should be interesting and informative corporate blogs such as Dell, Coca-cola and Nokia.

Related articles:

the pros and cons of corporate blogging
10 ways to boost the value of your blog
survey on trustworthtiness of corporate blog
10 rules for effective corporate blogging


Reference :

Halvorson.C. (2008,october). Minding your biz: should your company have a blog? New Hampshire Business Review. Retrieved July 11, 2009, from ProQuest database.

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

Mobile payment was first introduced in Malaysia by TeleMoney at the end of year 2001. In February 2005, another mobile payment service company, namely Mobile Money International Sdn.Bhd enters the market. Recently, with collaboration of Nokia, Visa & Maybank, and Malaysia’s Touch ‘n Go card Maxis launched the ‘World's first contactless mobile payment system’. It is as convenience as we never expected where transactions can be done by only key in numbers.

Potential

However, a lately Bank Negara Malaysia’s statistic shows that mobile banking usage is still low as compared to other e-payments (Figure 1). One of the reasons is there are other alternatives available conveniently i.e. ATM and internet banking. ATM machines are available around and can be reached conveniently. ATM also provides MEPS enable withdrawal and transfer between different banks. Internet banking on the other hand provides more services than mobile payment with the same charges such as checking statement promptly after fund transfer and online share application that cannot be apply through mobile payment. Moreover, the promotion on using mobile payment in Malaysia is not ‘hot’ enough to create awareness among Malaysian. In a nutshell, loads of efforts and collaboration between government, banks and merchants will be needed to increase the application of mobile payment among Malaysian due to high competitiveness with various e-payments. If not mobile payment merchant will definitely meet their draw back.

Figure 1 : statistic from Bank Negara Malaysia (source : payment system policy department, BNM)

Adoption strategies

Some of the widely adoption of mobile payment in Malaysia are:

• top up - reload airtime such as iTalk, Digi, or Celcom.
  
• pay bills - pays such as utilities bills, PTPTN loan, insurance bill, or Majlis Perbandaran.
  
• remit money overseas - such as to Indonesia, mostly use by foreign workers.
  
• pay friends - pay to friend through key-in their mobile phone number or bank transfer.
  
• pay merchants - applied when buying from stores.

Illustrations...


A customer using mobile to purchase a meal from a fast food outlet.







using Nokia 6212 for touch 'n go

















References:

http://mis-asia.com/news/articles/worlds-first-contactless-mobile-payment-system-launches-in-malaysia
http://www.fsa.go.jp/frtc/kenkyu/event/20090331/04-4.pdf
http://www.mobile-money.com/aboutus.htm
http://www.zdnetasia.com/news/communications/0,39044192,39001884,00.htm