GetITRevamp: On the go shopping with M Commerce

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