MobileCommerce Services In India

Now Mobile phone technology has made its way for a new

trend called mobile commerce where the financial

transactions are made using mobile devices.

M-commerce or E-commerce Services

Features of M-commerce

Creates opportunity to deliver new services to existing customers and to attract new customers.

Allows direct access to get imformationabote the product.

Can be done via the internet,privatecommunication lines,smart cards etc.

Typical examples of m-commerce

Purchasing airline tickets

Purchasing movie tickets

Restaurant booking and reservation

Hotel booking and reservation

M-commerce in India….

In India, RBI and TRAI, financial institutions, operators

and service providers have partnered with each other to take mCommerce to rural India.

SBI and ICICI bank have partnered with a mobile

banking technology partner “EKO” for their mobile

banking solutions

Likewise, other banks are also following them.

Indians at M-commerce….

At present, India has over 800 million mobile subscribers

240 million with bank accounts

20 million with credit cards

there are 88,000 bank branches

70,000 cash points.

The half of Indian households is still unbanked, including 42% holding at least one mobile phone. This opens a great opportunity for mobile phone industry and financial institutions to galvanize mobile commerce services in India.

The latest BCG report has also projected that the fee-based revenue from mobile commerce could be well over $4.5 billion by 2015 in India.

M-commerce Applications

Bill PaymentsMoney TransferRetail TransactionsMovie TicketingTravel TicketingMobile BankingMobile ATM

Use of Mobile commerce increasing continuously as shown in above chart

Advantages Of m-Commerce

Faster buying/selling procedure,as well as easy to find product.

Buying/Selling Available 24/7. Low Opration Cost and Better Quality of

Services. No need to Physical company set-ups. Easy to start and manage Business. Customers can easily select product from

different providers without moving around physically.

Disadvantages of M-commerce

Any one good or bad can easily start a business.

There are many bad sites which eat up Customers’ money.

There is no guarantee of product quality.

There are many hackers whos look for opportunities,to attack a mobile commerce site,services,payments.

M-commerce Limitations

Mobile commerce support depends on the software used in this area.

Smart phone limitation

Connectivity Mobile commerce will certainly be successful in India, but

telecom companies and banks do need to spend more to

provide safety and security from intrusions and hacking

Security Devloping

In the present days the online shopping services have increased.

To provide security to the passwords companies use encryption and decryption algorithms.