Mobile Commerce refers to wireless electronic commerce used for conducting commerce or business through a handy device like cellular phone or Personal Digital Assistant (PDAs). It is also said that it is the next generation wireless e-commerce that needs no wire and plug-in devices. Mobile commerce is usually called as 'm-Commerce' in which user can do any sort of transaction including buying and selling of the goods, asking any services, transferring the ownership or rights, transacting and transferring the money by accessing wireless internet service on the mobile handset itself.
The next generation of commerce would most probably be mobile commerce or m-commerce. Presuming its wide potential reach all major mobile handset manufacturing companies are making WAP enabled smart phones and providing the maximum wireless internet and web facilities covering personal, official and commerce requirement to pave the way of m-commerce that would later be very fruitful for them.
Advantage of m-Commerce
M-commerce has several major advantages over its fixed counterparts because of its specific inbuilt characteristics such as ubiquity, personalization, flexibility, and distribution, mobile commerce promises exceptional business market potential, greater efficiency and higher fruitfulness.
Thus it is not surprising that mobile commerce is emerging much faster than its fixed counterpart. M-commerce is more personalized than e-commerce and thus needs a gentle approach to appraise m-commerce applications.
Areas / Uses of m-commerce
In the current commerce industry, mobile commerce or M-Commerce has been entered in finance, services, retails, tele-communication and information technology services. In these sectors, M-Commerce is not only being widely accepted but also it is being more used as a popular way of business/ commerce.
Mobile Commerce works vastly in finance sector including all big and major financial institutes, banks, stock market and share brokers. Whenever any user needs money or wants any sort of banking and finance related services, he/she can access the services or register services via voice calling or via Short Message Services (SMS) services. WAP based mobile handsets allow the user to access the official website of the institute.
User can transact money or transfer money, or pay the bill from its bank account using mobile commerce facilities. Banks also provide round the clock customer care services, which can be used any time through voice calling. Some customer care services are also provides non-voice services on mobile that is known as insta-alert facility.
While in the stock market, the user can access the stock market quotes and get in live touch with current trading status on its mobile in two forms either voice (customer assistance) or non-voice (sms alerts) or both.
The share broker sends market trends and tips of trading on their clients' mobile. Also broker can suggest the appropriate stock for intra-day trading to their users.
Mobile has played a giant role in communication technology through its versatility and superiority. The ubiquity and easy usage has further made it extremely popular across the globe. It has already surpassed the fixed phone in the world. Software platform is essential for operating any mobile and this tool has revolutionized the communication world because of its functioning as a small computer.
The booming popularity has forced the corporate world to develop a new
commerce platform that can reach to masses. Mobile commerce has attracted
massive traffic because of its unique characteristics. The user can change the
service of any financial institute or banks if gets better product and service
or user is unsatisfied with the service of the subscribing company.
Besides this several bills can be paid using mobile and user can also check the available balance, the status of cheques, the status of requested processing and customer care support.
Several dealings can be handled through mobile phones.
Service / Retail sectors
Service and Retail sectors are also among the leading sectors, which have nurtured most from mobile commerce. M-Commerce has proved a major boon for these sectors. Several business dealings no matter how big or small are being finalized on the mobile phone. Customer would be able to book the order, can hire carrier/courier services and above all could also pay the dues related to it through mobile.
After the bursting of dotcom bubble, e-commerce has gone downwards to hell. But the evolution of mobile commerce has again worked as ambrosia for them. A separate sector has been evolved to exercise on this field for the IT experts. The webmasters have skilfully exploited this new area of IT-enabled commerce.
In the IT field, mobile commerce has been used massively to deliver financial news, stock updates, sports figures and traffic updates and many more onto a single handheld device 'mobile'.
History of m-commerce
Despite of huge popularity of mobile commerce, it is yet in the initial stage and can be further expand in to all the fields, which affect the human life. The assumption of mobile commerce is not so young as it mushroomed so early from adopting this technology.
It initially begins with the use of wireless POS (Point Of Sale) swipe terminals and has since then made its way into cellular phones and PDA's (Personal Digital Assistants). The first enabling m-commerce technologies were presented through Wireless Application Protocol (WAP) and i-mode mobile Internet service. WAP builds on digital phone technology and first emerged on 2.5 G phone technology that allowed users to browse the Internet. This technology cemented the way of m-commerce, which has strongly developed on 3G-phone technology. Nokia has first introduced m-commerce application software Nokia toolkit version 4.0.
The future of m-Commerce seems extremely bright because several experiments are going on to introduce the upgraded version of mobile likely to emerged with the evolution of 4G mobile technology.
What We Do?
We at Roseindia Technologies Pvt. Ltd provides you Java based software solution to all sorts of m-Commerce business including Mobile Banking, Mobile Ticketing, Mobile Marketing, Auction, Stock Quotes and SMS Alerts with regard to mobile content business including all sorts of billing and payment methods.
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Rose India Technologies Pvt. Ltd.
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