M-commerce refers to commercial transactions conducted on mobile devices such as smartphones and tablets. It uses wireless technology and e-commerce platforms to enable purchases and sales of goods and services through mobile apps and websites. Common examples of m-commerce include mobile banking, mobile ticketing, bill payments, online auctions, and stock trading apps. The use of m-commerce is growing as more of the population gains access to mobile internet on their phones. It provides convenience for users and opportunities for businesses to target customers based on location and device characteristics.
M-commerce refers to commercial transactions conducted on mobile devices such as smartphones and tablets. It uses wireless technology and e-commerce platforms to enable purchases and sales of goods and services through mobile apps and websites. Common examples of m-commerce include mobile banking, mobile ticketing, bill payments, online auctions, and stock trading apps. The use of m-commerce is growing as more of the population gains access to mobile internet on their phones. It provides convenience for users and opportunities for businesses to target customers based on location and device characteristics.
M-commerce refers to commercial transactions conducted on mobile devices such as smartphones and tablets. It uses wireless technology and e-commerce platforms to enable purchases and sales of goods and services through mobile apps and websites. Common examples of m-commerce include mobile banking, mobile ticketing, bill payments, online auctions, and stock trading apps. The use of m-commerce is growing as more of the population gains access to mobile internet on their phones. It provides convenience for users and opportunities for businesses to target customers based on location and device characteristics.
M-commerce refers to commercial transactions conducted on mobile devices such as smartphones and tablets. It uses wireless technology and e-commerce platforms to enable purchases and sales of goods and services through mobile apps and websites. Common examples of m-commerce include mobile banking, mobile ticketing, bill payments, online auctions, and stock trading apps. The use of m-commerce is growing as more of the population gains access to mobile internet on their phones. It provides convenience for users and opportunities for businesses to target customers based on location and device characteristics.
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Meaning of m commerce :-Mobile commerce, also known as m-commerce or mcommerce, is the use of
wireless handheld devices like cellphones and tablets to conduct commercial transactions online, including the purchase and sale of products, online banking, and paying bills. The use of m-commerce activity is on the rise.
Meaning of m commerceVery simply put M-commerce entails the e-commerce transactions done with a mobile phone. So M-commerce is the use of mobile phones to conduct any type of business transaction. It takes the help of the e-commerce background and WAP technology.
Application of e commerce
Other than the straightforward m-commerce transactions of buying and selling of goods and services, they have so many applications. Let us take a look at a few examples,
Mobile Banking: Using a mobile website or application to perform all your banking functions. It is one step ahead of online banking and has become commonplace these days. For example, in Nigeria, the majority of banking transactions happen on mobile phones.
Mobile Ticketing and Booking: Making bookings and receiving your tickets on the mobile. The digital ticket or boarding pass is sent directly to your phone after you make the payment from it. Even in India now IRTC and other services provide m-ticketing services.
E-bills: This includes mobile vouchers, mobile coupons to be redeemed and even loyalty points or cards system.
Auctions: Online auctions having now been developed to be made available via mobile phones as well.
Stock Market Reports and even stock market trading over mobile applications.
Advantages of M-commerce
It provides a very convenient and easy to use the system to conduct business transactions.
Mobile commerce has a very wide reach. A huge part of the world’s population has a mobile phone in their pocket. So the sheer size of the market is tremendous.
M-commerce also helps businesses target customers according to their location, service provider, the type of device they use and various other criteria. This can be a good marketing tool.
The costs of the company also reduced. This is due to the streamlined processes, now transaction cost, low carrying cost and low order processing cost as well.
Disadvantages of M-commerce The existing technology to set up an m-commerce business is very expensive. It has great start-up costs and many complications arise.
In developing countries, the networks and service providers are not reliable. It is not most suitable for data transfer.
Then there is the issue of security. There are many concerns about the safety of the customer’s private information. And the possibility of a data leak is very daunting.
M-commerce (mobile commerce) is the buying and selling of goods and services through wireless handheld devices such as smartphones and tablets. As a form of e-commerce, m-commerce enables users to access online shopping platforms without needing to use a desktop computer.components ofof m COMMMERCE Examples of m-commerce include in-app purchasing, mobile banking, virtual marketplace apps like the Amazon mobile app or a digital wallet such as Apple Pay, Android Pay and Samsung Pay.
Over time, content delivery over wireless devices has become faster, more secure and scalable. As of 2017 the use of m-commerce accounted for 34.5% of e-commerce sales. The industries affected most by m-commerce include:
Financial services, which includes mobile banking (when customers use their handheld devices to access their accounts and pay their bills) as well as brokerage services, in which stock quotes can be displayed and trading conducted from the same handheld device.
Telecommunications, in which service changes, bill payment and account reviews can all be performed from the same handheld device.
Service and retail, as consumers are given the ability to place and pay for orders on-the-fly.
Information services, which include the delivery of financial news, sports figures and traffic updates to a single mobile device.
