Abstract:

The initiatives of building the Electronic Payment Systems have started before the early years of the “Golden Era” of the dot-coms. These have been major encouragement by the state authority’s to the enterprises to support the enterprises participation and involvement in the e-commerce business and transaction. Different techniques were taken up by the state authorities to inaugurate the Electronic Payment System in their own countries. Policies, regulations and workable systems have since then being developed and these developed systems were then introduced to other countries in the effort to promote theses systems to become more widely used. The promotion effort was a noble effort as it has encouraged the Electronic Payment System development activities in the world and creates multi-dimensional system covering businesses using the non-mobile or mobile devices. Today, these initiatives have created a diverse Electronic Payment System covering micro transaction, vast purchasing and real-time stock taking plus mobile transaction and banking. This paper will be highlighting the major initiatives taken in selected countries around the world. The objective is to analyze their effort and the available Electronic Payment System in the world, to help give recommendation to the development and improvement of current Electronic Payment System effort in Malaysia.