Mcommerce, or mobile commerce, refers to business operations conducted with the help of handheld devices. Being a subset of ecommerce, mobile commerce has grown significantly over the past decade, allowing customers to purchase items and perform transactions through mobile applications as effectively as through desktops. More importantly, smartphones and most tablets use a cellular network, which expands the area of mcommerce activity.
Before the launch of the first iPhone in 2007, mcommerce business was based on the SMS and fax and had multiple security vulnerabilities. The launch of the iPhone by Apple changed the way of doing business due to the appearance and developments of applications and a major decrease in the system’s vulnerability. Separate applications allowed businesses to extend the number of products and services for their customers and also to become more accessible for them.
The development of mcommerce was influenced by social media as well. In 2014 Facebook provided a “Buy button” for ads and products posted on their website. This innovation allowed small businesses to sell their products online using Facebook as their commerce platform and users could not only purchase a product or pay for services using desktops, but also their smartphones.
Mcommerce can be divided into mobile shopping, mobile banking, and mobile payments
Mobile shopping is a type of activity, which allows users to purchase goods using a native or web application. For example, Amazon provides its customers with a native application to make purchases through their mobile devices without the usage of a desktop. It should also be noted that the process of buying and selling products via a native application is a subcategory of mobile commerce called app commerce.
Mobile banking includes operations done through the secure application provided by banking institutions. With its help, clients can pay their bills, make financial transactions, and control their operations, for example, deposits and loans.
Mobile payments allow people to make in-person purchases using their mobile devices. The development of digital wallets, such as Apple Pay and Google Pay, or applications such as Paypal, brings the possibility to pay for products, services, or make a transaction without using cash and physical bank cards. Apple Pay and Google Pay also let users make immediate purchases through the web and mobile applications, which support iOS or Android accordingly.
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