What is M-Commerce
M Commerce refers to mobile e-commerce and primarily describes the ever-growing trend of using networks that acts as an interface with many wireless devices. It provides an interface with wireless devices including mobile phones, laptops and handheld computers as well. M commerce is a significant term that describes the growing practice of finalizing financial and promotional activities with the aid of mobile phones. It is possible to carry out the transactions with the help of hand held devices, personal digital assistants and other hand held devices that hold the ability to operate with Internet access as well.
M-Commerce-Effects Sales Promotion
The primary concept of M-Commerce has undergone a paramount change in recent years and one can expect it to become more and more popular in the coming years as well. Effecting sales promotion with the help of a hand held device is a good example of M-Commerce. In other terms, mobile commerce is the act of purchasing and selling with the help of handheld devices including PDAs and cellular telephone as well. M-Commerce can be termed as the next generation e-commerce as well. The underlying technology behind M-Commerce is WAP (Wireless Application Protocol). The concept of M-Commerce has taken greater strides in countries like Europe.
It is necessary to take into account a few facts associated with M-Commerce. The facts are as follows:
- The Spending of M-Commerce is Expected to Reach 119 billion USD in the coming four years
- The largest market for M-Commerce is Japan
- 2.1 % of UK’s population is using M-Commerce
- Potential growth in UK is Enormous
A few benefits are always associated with M-Commerce. One can highlight the prime benefits of M-Commerce as under:
- M-Commerce can Enable Companies to Display Products
- M-Commerce Enable Companies to do Promotions
- One can access Products with M-Commerce
- Verify Price Details
It is a fact known to all that M-Commerce has gained paramount importance in countries like Asia and Europe. Slowly, the concept is spreading to countries like South America and North America as well. Countries like Brazil and South America are slowly embracing this new technology as well. This technology has recently witnessed acceptance in United States and Canada as well.
Industries Affected with M-Commerce
A few industries have been affected by M-Commerce in a significant manner. The industries affected with M-Commerce include telecommunications, information services, service/retail and financial sectors as well. M-Commerce plays a vital role in ensuring the timely delivery of sports figures, traffic updates and financial news. M-Commerce makes it possible to make bill payments and account reviews as well. In a bid to improve, the overall security of M-Commerce transactions, IBM and other companies are busy performing experiments with speech recognition software. The popularity of this technology is expected to grow in recent times as well.