What you need to know about mobile commerce
Mobile commerce, also known as m-commerce, is the purchase and sale of goods and services and goods with the help of a mobile device. It is actually a branch of electronic commerce which is carried out using hand-held or wireless devices over the Internet. M-commerce is extensively used for carrying out promotional activities through mobile phones, digital assistants and hand-held gaming devices that require Internet.
M-commerce and e-commerce — Know the difference between these two
M-commerce and e-commerce are two different terms which are commonly used interchangeably. Although both of them have various similarities, they have a basic difference too. Both of them are engaged in executing transactions via the Internet; however e-commerce is carried out by means of wired connections and m-commerce is done with the help of mobile networks.
Various services offered by m-commerce and e-commerce
Some common services offered by m-commerce consist of email and messaging, GPS (global positioning system) and accessing digital content products. On the other hand, m-consumer services include stock trading, ticketing, news and sports, games, shopping, gambling and banking.
Some major concerns of e-commerce and m-commerce
Like all kinds of technology, mobile commerce too has its own concerns. They include privacy, security, cost, reliability and time required for downloading. Mobile phones can be tracked easily, thus making the users vulnerable. Consumers are often cautious of carrying out m-commerce using sensitive information like their credit card details, in case it is being used by someone else. Old mobile phones are undoubtedly very slow and as such, it requires lot of time for downloading which frustrates the users at times. In order to make m-commerce effective, it is very important that you reduce all the concerns related to it.
Some benefits of e-commerce and m-commerce
There are innumerable benefits associated with m-commerce for the consumers as well as the providers. The consumers will be able to carry out their own business even from the most remote areas by means of hand-held devices only. This will help them to save their valuable time as well as costs that are associated with traveling to the site physically. The providers will also benefit by offering their products and products to a broader umbrella of customers. As such, they will no more be restricted by physical or geographical limitations.
Some drawbacks about m-commerce and e-commerce
M-commerce solutions are restricted in speed compared to computer systems. The fastest mobile phones are typically very slow in comparison to computers that are capable of providing the basic services only. Since mobile phones have smaller screens, this is another drawback, particularly when you want to see formula-based reports or complicated diagrams. Mobile devices have a limited capacity for storage which makes it very difficult for the users to save relevant information related to mobile phone transactions.
The susceptibility of mobile phones to damage and loss is another drawback of mobile commerce, because it puts your sensitive data at high risk.