A Review Of Lelong Malaysia Site

Lelong.com.my is a Malaysia online transactional site is more like E-bay where people can bid for products for a certain period of time. The highest bidder will get to purchase the product. Over here, users can purchase or sell new or used items. The main advantage of this site is that it does not charge its users any transactional fees unless the user which to post more than 1 picture of a particular products at the site.

Lelong.com.my also enables its user to set up their own virtual store if they meet certain rating requirement. For setting up a virtual store, users have to pay a yearly sum for it but in return, users can name their own store and put in their own logo as well as their own store URL. Rating system is also available in lelong.com.my. This is to enable the customer of a particular user to rate the seller and also helps to bring confidence to the other customers who are not familiar with the seller.

Buyers can pay for the products they purchase with a number of way such as using online banking, telegraphic transfer, bank-in, or safe trade. In lelong.com.my, they offer safe trade to their users. Customer wants their goods while seller wants money. Safe trade works by having the buyers pay to the safe trade account and the money will not be release to the seller first. Seller will have to send the goods to the buyer and when buyer received the goods, they will authorise the release of money to the seller. This feature helps to build confidence in the buyer and as well helping the seller to have more sales as the buyer is not worry of being cheated.

In lelong.com.my, they also offer quick grab in which the product price is set by the seller. This is for the buyer who wants the products and does not which to bid or wait for the bidding time to end. This website also provides a forum where buyers and sellers can chat with each other. Moreover, buyer can also announce to their prospective buyer their upcoming offers at the same time.

Related links:
Lelong.com.my  - Forum
Lelong Safetrade

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Mobile payment is becoming a major way of paying in Asia and Europe. Instead of using credit card or cash, user only need thier mobile phone to do a transaction. The market for mobile payment is expected to be at around $600 billion by the year 2013. This show that a lot of people are aware of the effectiveness of mobile payment and companies are venturing in to this service.

Mobile payment system is becoming a major way of paying in Malaysia. With around 25 million mobile phone user, and current infrastructure, mobile payment can attract a lot of users. With mobile payment, users do not need to take all the hassle to travel or line up to pay or purchase what the need. Even Bank Negara have acknowledge the emergence and usefulness of mobile payment but Bank Negara have put it at a low leval of usage due to confidence of the user and low awareness about the usefulness of mobile payment.

Even transferring money can be done online with just a few clicks on the mobile phone. Money can be even transfer from one country to other country and the recipient can withdraw the money sent by their love ones. Emergence of mobile payment allows the users, to pay all their purchases without having a credit card. All they need is a “NFC (Near Field Communication)” phone and wave it a special reader. Users can also make mobile payment through other method which is WAP (mobile web payment), direct mobile billing or premium SMS based transaction payment. Security is not an issue as the service provider will provide the necessary security.

In Malaysia, a lot of companies have been setting up their service here, Com2u Sdn Bhd enable users to transfer money using mobile phone while Maxis, Touch N Go, Visa, Nokia and Maybank is working on multi payment service which will enable user to pay everything using their phones. The service from Maxis now enable user to purchase their items from 1,800 participating Visa pay-Wave merchants and 3,000 Touch N Go points nationwide. With this, users of Maxis can now able to purchase anything they want without having to bring any cash or credit cards. Buying a products using mobile paymant is also fast and users do not need to queue as all users only need to put the phone near a reader and the payment is made automatically. Since this service is gaining popularity, there will be more and more large companies that will be joining the race to grab market share in the mobile payment sector.

Related Links :
Mis-asia.com
Newscentre.msc.com.my
Mobile88.com.my
Wikipedia

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When making any transaction online such as online banking, online transaction or logging in to our own email account would enable any hacker to gain any information they need from passwords to credit card numbers. Therefore, we need to keep our data from as safe as possible and don’t even disclose it to your own friends.To safeguard our personal and financial data, we can do it in a number of ways.

Keep operating systems and browser updated

Keeping both of this updated will ensure any security flaws to be patch up and people will not be able take advantage by manipulating it to get our data.

Choose a strong password

Users should choose their desired password or PIN that are hard to be guessed by any person.Password or PIN are recommended to be at least 6 words long consisting of alphabet,numbers, lowercase and uppercase. Complex password is always the best choice as hacker will have a hard time cracking it.

Have an anti-virus and anti-spyware

By having anti-virus and anti-spyware would help to prevent any malicious program from embedding themselves in to your computer system. Literally by having both would not be enough if the user does not update and scan their computer on a regular basis. Having 1 type of anti-virus and anti-spyware is not enough as they do not guarantee a well protected computer. It is best to have additional anti-virus or anti-spyware for added security.

Avoid accessing in public area

Users should not access their personal or financial data using free wireless access that is available to them in the public. This is because data that is send through wireless technology can be easily traced and read unless the data is encrypted. Other than that, users should not access any sensitive data using public computer like in the cyber-cafe. This is because, there might be malicious program planted into the computer to capture data entered by unsuspected users.

Have a firewall

Having a firewall would actually slow that internet connection as they will go through a layer of protection that will scan and read any data pass through it. Firewall is recommended as they are able to block any unwanted communication from being establish to the web unless it is being expressly allowed by the users.

Secure Website

Users need to be aware of the pages they are visiting or web site where they are doing thier online transaction. Users should look for web pages that are secure which is usually have a "lock sign". Web pages which contain 3rd party certificate such as Verisign, Trustgate and others can help to minimize data from being stolen as they shows that a particular site have neccesary security features such as SSL (security socket layer) which provides security and data integrity over the internet.

Related Links:

1. Yahoo.com
2. Fool.com

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E-Commerce is a process of buying, selling and exchanging products, services and information via computer networks. With the tremendous growth of the internet, more and more people are purchasing their products online as it is much cheaper compare to “bricks and mortar” stores.



Example of E-commerce Failure

IBM

IBM’s World Avenue Mall is one of the casualties of online retailing. This online mall lasted less than a year in the market. It was started in 1996 and closed down in July 1997. This mall was actually using IBM’s name but it was rented out to other companies to sell their products. This sounds promising as at that time, online sales are projected to reach billions of dollars in sales. Therefore companies like IBM and Microsoft are starting it early to tap it potential and gain a strong foothold in the market. But lack of understanding of its customers and online users lead to a disaster which eventually cause the virtual mall to closed down and indirectly hurt IBM’s name.

Causes

The mall is started in 1996 which at that time, internet usage among people is very low and expensive. People prefer to buy directly from traditional as they can view the actual product before purchasing it while purchasing online will depends on the picture supplied. Other than that, security at that time become an issue to the users and they are worried about their own privacy will be breached as a result of “cookies” stored on their computer by the retailers. IBM’s World Avenue Mall which uses IBM’s name also undermine the brands of their customer who uses IBM’s service. This cause uneasiness among the IBM’s client which see some of them leaving the service.

Info From:

Cnet - 1

Cnet - 2

Toysmart

Toysmart is a toy company that is owned 60% by Disney Corporation. This company is specialised in selling educational toys for children and learning tools which are need by most parents. During the uprising of the internet, this company’s website has been rated to be the few most visited website during the end year holidays. But in year 2000, during the dot com bubble burst, Toysmart is the second large toy company owned by big entertainment company to shut down its doors after Red Rocket which is owned by Viacom closed down.

Causes

Due to the massive spending during the change of year 2000 have leave many I.T company spend more than they need, causing them to spend unnecessarily. Other than that, there were too many toy companies at that time where it cause them to compete with each other but cutting down on their profit margin, making some companies having high revenue but no profits. This online toy companies also based on a theory of having to expand its customer based as fast as possible even if they incur heavy losses. The case of Toysmart is that, they fail to get necessary cash injection when ongoing talks with investors fall out in the last minute prompting the CEO, David Lord to announce that the company is closing down on May 22, Year 2000. Toysmart, also fail to build a unique brand that will attract parent to come back to its store and there is no customization available like the other competitors which make it like other ordinary “brick and mortar” toy store.

Related Links:

Cnet - 1

Cnet - 2

CNN

Allbusiness.com

Wikipedia

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My name is Dillen, currently I am in Year 3 Semester 1. I am based in Sg Long Campus. Well, I am a usual guy currently living in this Earth. :D

I don't have much hobbies like some other people, but certainly I like to play badminton and I do collect toy cars as my hobby. Well, My collection is still very small as collecting toy cars cost me a lot of money.

Usually I use my intenet primarily to play games. Other than that, I also use it to search information to keep myself updated as well as for assignment. I also use the internet to stream movies or videos from youtube. Other else, would be like posting comment on friends blogs and reading forums.

I prefer tech sites compare to other sites:

1) Hardware Zone

2) LowYat.Net

3) YouTube

4) TVOkay

5) Download.com

I like all the websites above is because I can get to know the latest changes in the computing world and as well as catching some shows that are not available in normal tv station.

Well, that is all about me.

The Secret To Creativity Is Knowing How To Hide Your Sources

- Albert Einstein

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