WHAT IS MOBILE COMMERCE?
Mobile commerce, also known as m-commerce, is the process of making an online transaction with a wireless device such as a tablet or smartphone. A form of e-commerce, mobile commerce first occurred through devices like cell phones and digital assistant devices, while the advancement of smartphone technology has further stimulated the mobile commerce market.
THE DIFFERENT TYPES OF MOBILE COMMERCE
Mobile commerce is more than just buying and selling goods or services online through a mobile device. There are several types of transactions that fall under the mobile commerce umbrella, many of which you’ve likely done yourself.
Perhaps the most recognizable type of mobile commerce, online shopping is something that most people do, highlighting just how big m-commerce has become in recent years. A huge percentage of smartphone owners shop online using their device at least once, being one of the main reasons that m-commerce has grown at such an exponential rate.
Retail businesses are fully aware of this ongoing trend too. E-commerce stores are being developed to accommodate mobile commerce habits, with mobile-friendly and highly responsive websites ensuring that mobile users can shop online with greater ease.
The popularity of commerce is due to various factors, with one of the more notable examples being the convenience it offers people. Mobile banking is a relatively new innovation in m-commerce but one that offers the utmost convenience for managing personal finances.has even been suggested that mobile payments could end up replacing credit cards in the future. Instead of needing to carry many different credit cards you could lose or have stolen, a digital wallet is used from a mobile device to pay for things.
Despite being one of the latest innovations of mobile commerce, mobile payments are set to be the driving force behind its future growth. Mobile payments are basically a digital transaction involving the use of a mobile device. Instead of using a credit card or cash, a mobile device is used to pay for goods or services.
Mobile payments are very much are the forefront of the future of mobile commerce. They offer a quick and convenient way to purchase goods at a pay point in virtually any physical store, leading many business owners to integrate mobile payment systems into their pay points.
It has even been suggested that mobile payments could end up replacing credit cards in the future. Instead of needing to carry many different credit cards you could lose or have stolen, a digital wallet is used from a mobile device to pay for things.
It is not an exaggeration to suggest that the future of mobile commerce is massive. As the number of people using mobile devices continues to grow, so too does the future of mobile commerce. Here are some facts that highlight just how bright future m-commerce has: