We are living the mobile era. The mobile
technologies are some of the fastest growing technologies. The magic of the
mobile technology have won the hearts of people by bringing their imaginations into reality. The booming mobile technology has resulted in mind-blowing applications in many sectors. One of such trending sector is Mobile
Commerce, referred as m-Commerce.
Shop via App :
In
last few years the world has experienced the best and easiest transitions of
money through digital money transfer and online payments. The Online marketing
companies has captured the market like wild fire post introduction of the
m-commerce. The e-commerce has rose Online market by 13 percent where as the
m-Commerce rose the same market by 42 percent during the year of 2013 to 2016.
Consumer Expectations :
The m-Commerce has also increased the expectation
of the of consumers. The consumers expect the app to analyze and advice the products
they like or they want. They expect the target notifications to be received. Further to make
consumer more familiar with available m commerce services efficiently lead to the invention of the chatbots applications which is used
to facilitate the conversation via auditory or textual methods.
Product delivery is the primary factor in m-commerce and e-commerce business. Survey shows that 80% of the consumer excepts the same day
delivery where as 64% of the consumer excepts with in few hours. Taking one step
forward in the field of logistics the e commerce company brought the new concept of drone delivery
(project by amazon) wherein product delivery realizes in no
time. The m-commerce with more number of
choices and fast delivery is excepted to make good growth in this business.
Mobile Wallet :
The
digital money i.e. mobile wallet had played a great role in rising the
m-commerce to the newer heights. The Apple pay, Paytm, Walmart in-app’s payment has
got the lot of attention. It has been
analysed that 2017 will experience drastic increase in
the use of digital money.
The government of India encouraged digital transactions through various schemes like offering accidental insurance
of RS 10 lakh on digital or online payment, discount on catering and lodging at
railway stations etc.
Paytm one of the leading company has
recorded the 5 million transactions a day. Moreover the company is excepting
the transaction of Rs.24,000 corer by the end of financial year 2016-17.
WorldPay estimates that Online payment or Wallet System such as PayPal, Google
Wallet, AliPay account for around 59%
of m commerce transactions in
2017
fraud -The biggest
Threat :
With the increasing in m commerce business
the question for the security is gaining an importance. With the rise in the m
commerce business the more and more secured system are required to be
developed. According to US government for every dollar of direct lose from
fraud, cost $3.34 dollar. To overcome this situation the cyber sources made
some strong frame works.
In order to fight against the mobile fraud
commercial companies modify the system like development of advanced software
which could track the device details, checks transactions are carried by human
or robot, trace the geo location of the device, confirm the details by calling
consumer, etc
growing rapidly with the
increase in the trend of the mobile or wireless devices. In this fast
growing world people
except more efficient, automated and fast systems. The business
opportunities has also increased with m commerce. The biggest challenge is bringing
up the effective wireless
system to completely realize the power of m commerce of mobile
era.
Statistics Source:
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keen interest in trends and developments in this field.
He regularly shares the same with blogs, white papers and case studies.