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Why Mobile Commerce Market Goes High without Legal Agreement on Mobile Payment Methods?

Mobile Commerce

According to "Mobile Commerce: State of the Market", one of the most popular corporate mobile computing initiatives is the BYOD (bring your own device) trend. In this report, we have seen the mobile commerce market is becoming strong and powerful.

For example: In June 2012, 41% of executives from InformationWeek`s 500 companies have polled widespread deployment of employee entrance to corporate apps through personal devices while 29% have limited deployment.

Apart from, a mobile version of a customer website (39% widespread deployment / 14% limited deployment), mobile apps for employees (25% / 29%) and mobile apps for customers (37% / 24%) are also included in deployed mobile commerce initiatives. Moreover, if we are combining 28% of respondents, we found it has widespread or limited deployment of a mobile employee website and 39% are appraising one.

If we are evaluating custom business apps, it is also popular; however in August 2011, a sizable percentage of the 323 business technology professionals surveyed and have no plan for create and utilize them. At present days, more than 33 percent of business IT professionals are creating and using custom business apps and 31% of business are planning to use. Moreover, 27% of businesses don't create and use them and have no plans to do the same and 9% don't know anything.

Difference between NFC vs. Cloud Mobile Payments

There are huge difference between a cloud-based approach and a device-based near field communications (NFC) when it comes to accepting mobile payments, according to the report. Secure hardware like a SIM card is also involved in NFC that allows storage of financial data while consumer data is stored in cloud-based stores in the cloud and makes it available to smart devices through secure access.

Nothing is ‘correct'. Greater simplicity at the POS is offered by NFC while fewer infrastructures are required by cloud and is simpler to upgrade. It is recommended by InformationWeek to company that accepting payment through mobile not totally commit to either approach and continue open to a both option that unites elements of both approaches.

If we are looking to the advantages and disadvantages of each mobile wallet approach, we found pros like promotions, enhanced sales, and customer loyalty while cons like fragmented, complex solutions provider ecosystem. Moreover, cloud advantages are no required change to POS infrastructure and disadvantages are the requirement of Internet connectivity at the POS.

A thought on Mobile Banking

In this report, a quick overview of mobile banking is also provided that consist of services like transfers, bill payments, balance inquiries and applying for loans and credit.

The user base of mobile banking will double to 108 million by 2017 and 46% of all US bank account holders, according to data from Forrester.

In January 2011, Mobile automated clearinghouse rules were adopted in United States while M-Pesa, a Vodafone-sponsored mobile banking service helps to govern mobile banking transactions in seven developing nations such as India, Kenya, Tanzania and many more.

What are Mobile Commerce Recommendations?

Below are given recommendations to businesses, who want to deploy mobile commerce applications:

  • Create a M-commerce Development strategy as it is its immaturity days, however growing very quickly.In the very first step, you have to mobilize existing e-commerce systems, followed by developing mobile-specific features like location-based services.
  • The most immediate opportunity is offered by cloud-based systems to those companies, who are developing mobile wallet apps. However, near-field communication must be considered and cloud-based apps that work along with QR codes and barcodes.
  • One must have to search out different mobile commerce platform for finding the best among all according to your requirements.

Adam Wills-From last couple of years, I am in the content writing field and writing content related to mobile commerce and its emerging trends. I love to share latest updates related to m-commerce. If you have any queries related to M-commerce Development, visit perceptionsystem.com for detailed information about mobile commerce technology.

A post by adamwillss (2 Posts)

adamwillss is author at LeraBlog. The author's views are entirely his/her own and may not reflect the views and opinions of LeraBlog staff.

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