M-commerce, just like E-commerce, is also the act of selling and buying through online means. E-commerce stands for Electronics commerce while M-commerce stands for Mobile commerce. It is a form of E-commerce that enables users to access online shopping websites or applications without needing to use a computer or a laptop. So in simple words, M-commerce is the buying and selling of products and services via wireless handheld devices such as smartphones or tablets. M-commerce is known as next-generation E-commerce as it allows using the features of E-commerce without needing to find a place to plug in.
M-commerce can be divided into types by the kind of functions such as Mobile shopping through shopping applications, mobile payments or banking via E-wallets or payment apps, etc. With the fast traveling generation, who has the time to sit on a table and open their computers, there is always someplace to reach. Mobile has made it easier to do anything on the go, so why not shopping or payments?
Mobile commerce allows people to handle business, perform Transactions, prepare financial data while on the go.
ETYMOLOGY of the term:
The term M-commerce was first used by the CEO of Global Mobile Commerce Forum, Kevin Duffey back in November 1997. The beginning of mobile shopping is traced back to the idea of paying for soda, namely, coco-cola via SMS and it gained popularity very rapidly. It then went on to inspire the future development of Mobile payments. It is said that mobile ringtones were the first thing to be sold through M-commerce platforms in Finland in the year 1998. It took M-commerce two years for its fandom to began and since then, it hasn’t lost its popularity, just kept on increasing with time.
SERVICES that M-commerce provides:
- Transferring of money
- Buying tickets
- Mobile banking
- Online shopping
- Mobile marketing and advertising
- Mobile browsing
- Business monitoring
E-commerce itself has not reached its full capabilities and still has a long way to go. And the same can be said for M-commerce. Back when M-commerce took its initial steps, it was considered a risky area because of the limitations of mobile phones back then. But since then many new features of mobile phones have been created and have almost removed all the limitations that can cause a major problem or smooth M-commerce. The screens have become bigger and the touchscreen is very user-friendly now. The mobile network has been made available to everyone and has even become affordable for all types of people. Moving to M-commerce is the best description of technology development and moving on to a better and easier way of living. If a business lacks an online presence, it is cutting itself from many opportunities to grow. And now, simply having an online presence wouldn’t do, just a website is deemed insufficient now and every business now needs to have a mobile presence as well, creating applications for mobile phones so that the customer can use it on the go. M-commerce opens up various doors for the Business.
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