M-Commerce is used for the digital commerce transactions. The mobile phone producing companies are aware of the effectiveness of the M-commerce and providing the WAP accessible electronics devices. M-commerce is the just like wire line e-Commerce but this is wirelessly accessible and some Business analyst believe strongly that e-commerce will be replaced by M-Commerce.
This is the standard used for the wireless network communications. Its main purpose is to make the user enable to access the mobile web from his handheld Mobile phone or PDA. Many international companies are busy to provide the advance WAP enabled smart phones.
The WAP browser is similar to the Computer Browser and enables the user to get advantage of the Web access on his handheld electronic device and thus he can do any business transaction.
Products and Services
Financial Services
This includes the mobile banking, which enables the user to access personal bank account and ability to pay bills. Mobile banking is one of the emerging banking facilities which are available all over the world provided by almost all the banks.
Mobile brokerage
This service gives the user access to the Stock market. The user can get the information of the current trend in the stock market and can take action regardless of his physical location.
Information services
Information service includes
- Informative news
- Sports results
- Financial results
Telecommunications services
This service gives the user ability to pay his mobile phone bills, or to change the current service and account review.
Retail services
This service is the easy way for the user to place an order and to give the payment with his handheld electronics device.
Marketing
Organizations are now using the concept of mobile marketing and they are taking the advantage of M-Commerce in this regards to promote their products and services.
Mobile shopping
Mobile shopping is trend taking place in the market. The user buys the product and pays the bill online.
Obstacles in accepting M-Commerce by general Public
M-Commerce is a very trendy way of shopping and to do online transactions but still the users avoid and the main reasons are.
Security challenge
One of the biggest challenges in this M-Commerce industry is security issue. Information breach is one of the problems. Credit card number leakage is reported at many places thus people hesitate to avail this M-Commerce facility.
Current Trend in M-Commerce
Organization those who are aware of the M-Commerce advantage are making their business accessible online. The concept of traditional location based business is now being converted into online business. This gives the user to access any service or product regardless of his location. European industry is seemed to make heavy investment in this regard.