Define M-commerce. Describe the areas of its potential growth and future of m-Commerce.

Define M-commerce. Describe the areas of its potential growth and future of m-Commerce.

Answer:

M-Commerce:  

The process of buying and selling of goods and services through wireless devices such as cellular telephone and personal digital assistants (PDAs) is called as m-commerce.

Examples:
1. Using a smart phone’s browser to

"this site"

browse an e-commerce website such as Flipkart or E-Bay to buy a product.
2. Internet banking is another classic example of m-commerce.

 

 Areas of potential growth:

Businesses have identified that more and more users have access to mobile devices nowadays and the communication mediums via the mobile operators are also readily available for the users to access the internet. Hence there has been a lot of development in m-commerce area and likely to grow.

· In banking, new Channels of banking services are emerging and are working on m-commerce technologies. These new channels can facilitate deposits, payments, transfers and withdrawals.

· The travel industry is concentrating more on m-commerce. M-Commerce will allow customers to schedule, reschedule, plan trips through their mobile devices instantly before they give a second thought.

· Traders in the retail sector focus more on how to locate customers more easily and will be able to provide secure payment methods through mobile digital certificates or voice recognition.

· Point of sale websites are bound to grow more and more with entrepreneurs setting up online stores for sales. More are more people are getting used to buying products online.

Future of m-Commerce

· Localisation - merging capabilities and sharing costs between retailers or a region wishing to 'push' or promote mutual services and products.

· Instant connectivity- Access to applications on demand using multiple technologies and more network options.

· Personalisation - use of existing technology to receive what you want, when and how you want (remove advertising and so on.)

· Convenience and accessibility - time and space constraints are removed and people can access applications to their time and preferences.

· Security - use of means such as Security Socket Layer (SSL) to provide personal security, privacy of communications, and data integrity above that available in fixed Internet environments.