Monday, September 17, 2012
M-commerces: The Concept of M-commerce
M-commerces: The Concept of M-commerce: The concept of m-commerce and its place in shaping the world of commerce, cannot be generally overstated. There is growing consensus amongs...
The Concept of M-commerce
The concept of m-commerce and its place in shaping the world of commerce, cannot be generally overstated. There is growing consensus amongst most experts and industry players that the time has come to put in the work and develop this opportunity to its fullest.
However, for people who are directly involved in the legal and regulatory side of things, the diversity of laws and regulations which sometimes indicate the unpreparedness of some jurisdictions or at times signifies a need for education or reluctance to change, present a real challenge. This is not just a challenge within the market but also a challenge that presents itself internally within organizations.
What product are we allowed to sell? How and when? Are we better off selling directly or through partners? How mature is the regulatory environment in the country? We have a sound business proposition, now will the country laws and requirements frustrate or support it?
Some see this regulatory jungle as fetters that force or prevent a thriving m-commerce ecosystem, I believe that within M-commerce we see this as an opportunity – to be a partner for valuable change, through proactive and meaningful engagement with regulators, support partners and customers, create a lasting legacy and as a business make m-commerce profitable for our customers, partners and ourselves.
with this blog , i would like to share some insight into how we are dealing with these challenges while contributing to a dynamic but stable m-commerce world.
I happily invite your thoughts and comments on the discussion.
m-Commerce architecture :
the given below image say all about m- commerce flow :
However, for people who are directly involved in the legal and regulatory side of things, the diversity of laws and regulations which sometimes indicate the unpreparedness of some jurisdictions or at times signifies a need for education or reluctance to change, present a real challenge. This is not just a challenge within the market but also a challenge that presents itself internally within organizations.
What product are we allowed to sell? How and when? Are we better off selling directly or through partners? How mature is the regulatory environment in the country? We have a sound business proposition, now will the country laws and requirements frustrate or support it?
Some see this regulatory jungle as fetters that force or prevent a thriving m-commerce ecosystem, I believe that within M-commerce we see this as an opportunity – to be a partner for valuable change, through proactive and meaningful engagement with regulators, support partners and customers, create a lasting legacy and as a business make m-commerce profitable for our customers, partners and ourselves.
with this blog , i would like to share some insight into how we are dealing with these challenges while contributing to a dynamic but stable m-commerce world.
I happily invite your thoughts and comments on the discussion.
m-Commerce architecture :
the given below image say all about m- commerce flow :
E-commerces v/s M-commerces
Today I was in a confusing discussion – what is the difference between e- and m-commerce? At first glace it seemed obvious, “e” is done on the Internet via a laptop the traditional way and “m” via a mobile device over a radio network. But then we came into the device issue, if you have a smartphone running on a LAN or an iPad via an operator. What then?
Worldwide, nearly 1 in 3 phones sold in 2011 was a smartphone. Couple this with the wide uptake of tablets and other portable devices; it’s obvious to see that consumers have incredibly advanced technology available for their mobile lifestyle. Increasingly, what used to be strictly e-commerce is now becoming m-commerce, or a combination of both.
We concluded that regardless of the transaction, we would need a wallet that could be accessed from many devices. I should be able to transfer money to friends and family, pay for physical and virtual goods and services and pay in shops in any way I want. Similar to how m-commerce has created opportunities, the next generation of digital wallets will enable the lifestyle we want and need.
The market for e-commerce and in particular mobile commerce is rapidly growing. Market reports such as Juniper indicate that mobile commerce transactions will reach more than 700 M$ in 5 years from now. This growth is fostered by new developments in the mobile and Internet industries, providing consumers with new, convenient and secure ways to transfer money or make payments. Particularly worth mentioning in this landscape are mobile wallets, plugins that turn mobile phones into point-of-sales devices and the expansion of smartphones & tablets.
In emerging markets, mobile wallet technology has provided unbanked consumers with access to financial services using a mobile phone. This has enabled services such as money transfer, bill payment, goods purchase, airtime top-up and other services like insurances. One of the factors driving further uptake of mobile wallets is the ”payment reach” provided to consumers with wallet services. Therefore, by 2015 we will see interoperability between wallet schemes to make transfer of money between subscribers of different wallet providers as seamless as sending an SMS is today.
A mobile wallet :
A mobile wallet is more than just your regular bank account accessed from your mobile phone.It’s your bank account, combined with your Internet banking, your credit card, your expense tracker, your loyalty cards, your coupons, your pre-paid items, and your savings accounts all in one.
What are the advantages?
Everything is in real-time. This means the freedom to transfer money to your family or friends on the go, even if they don’t have a bank account. Imagine your friend is buying movie tickets, you can easily transfer them the money needed.
A mobile wallet means real-time interaction between supplier and the customer, which means you are able to receive and use location based coupons or promotions issued with the help of NFC technology. You are instantly rewarded for being exactly where you are.
Even more than that, a mobile wallet is linked to several different cards and accounts, so everything gets integrated. Your bonus cards, your loyalty cards, your coupons and your gift vouchers all in one place so they are always with you.
A mobile wallet can also be used in a variety of different purchase situations. Physical POS, online or mobile, it does not require you to switch to a different means of payment.
It also frees you up from carrying cash, something that can be stolen or lost and because it is strictly tied to your identity there is added safety and peace of mind.
So it’s not just a wallet. And neither is it just your regular bank account. It combines these two, adds even more functions, information and finally also increases the security of your assets. A mobile wallet gives me financial control and I always have it with me
Furthermore, as merchant acquisition is a cost for mobile operators and not all merchants may sign up for a wallet to receive payments, interconnection with existing payment networks to enable
consumers to pay (in-store or online) with a debit card linked to a wallet, will be widespread by 2015.
Another driver for m-commerce is the development of card reader plug-ins that can turn mobile phones into point-of-sales devices. In this way the investment required by a merchant is reduced, stimulating payments with cards especially in markets where the cost of traditional point of sales devices is a hurdle. The first solutions are appearing in the market (for example Square and PayPal) and by 2015 these plug-ins will be commonly used.
The next step in payment is driven by the rapid market penetration of smart phones and tablets. It is estimated (e.g. by In-Stat and Parks Associates) that 1 Billion smart phones will be shipped by 2015 and that more than 80% of all mobile subscribers in the US and Europe will have a smart phone. This gives endless possibilities to make payments more convenient and to provide consumers with more attractive marketing offers.
For example, instead of carrying around plastic cards, virtual cards can be stored in the phone and the payment app will ask the consumer what payment instrument to use when making an in-store or online payment. These payment credentials can be easily provisioned into the phone over-the-air, making it cheaper, more secure and faster to provide the consumer with a payment instrument. The user-friendly interface of a smartphone will also make it simpler for consumers to view all their loyalty points and coupons and to decide to use some of their points or a coupon for a payment, or to view all incoming bills and keep track of which ones have been paid.
Mobile and Internet technology will dramatically change the way we look at e-commerce and the examples discussed above are just the beginning. What do you think will be the main drivers as we head towards 2015.
Mobile is creating the first level global playing field. For the very first time developing and developed markets will be using a common infrastructure; one that empowers people and provides an increasing degree of equality. Mobile commerce will be a key driver of this. The fastest adoption of these services is expected in developing markets. Here legacy financial services will be leapfroged, rather than a transition from services that consumers have been using for decades, they will move straight from cash to mobile.
Mobile network operators, especially in developing markets, are extremely well positioned to bring about this change. In many of these countries the only infrastructure that exists is the mobile network and the only device that people own is a mobile phone. The brands that are most trusted are the operators and if there are few financial services, cash is still king, allowing for the introduction of these new innovative financial services.
The financially underserved have always had a terrible deal. Either, services haven’t been made available to them at all (I still struggle to comprehend there are 60 million unbanked people in the US) or services have been made available at a significant cost. This is clearly on the brink of changing.
I have always loved disruptive technologies and mobile is a fantastic catalyst for this disruption. Mobile has become part of our everyday lives. Our work life, social life and one of the last bastions that is about to change dramatically – our financial lives. M-commerce is still very much in its infancy and success over the coming years will be driven by partnership and co-operation. Join us here as we discuss the exciting future of mobile commerce and what will be driving it forward.
Worldwide, nearly 1 in 3 phones sold in 2011 was a smartphone. Couple this with the wide uptake of tablets and other portable devices; it’s obvious to see that consumers have incredibly advanced technology available for their mobile lifestyle. Increasingly, what used to be strictly e-commerce is now becoming m-commerce, or a combination of both.
We concluded that regardless of the transaction, we would need a wallet that could be accessed from many devices. I should be able to transfer money to friends and family, pay for physical and virtual goods and services and pay in shops in any way I want. Similar to how m-commerce has created opportunities, the next generation of digital wallets will enable the lifestyle we want and need.
The market for e-commerce and in particular mobile commerce is rapidly growing. Market reports such as Juniper indicate that mobile commerce transactions will reach more than 700 M$ in 5 years from now. This growth is fostered by new developments in the mobile and Internet industries, providing consumers with new, convenient and secure ways to transfer money or make payments. Particularly worth mentioning in this landscape are mobile wallets, plugins that turn mobile phones into point-of-sales devices and the expansion of smartphones & tablets.
In emerging markets, mobile wallet technology has provided unbanked consumers with access to financial services using a mobile phone. This has enabled services such as money transfer, bill payment, goods purchase, airtime top-up and other services like insurances. One of the factors driving further uptake of mobile wallets is the ”payment reach” provided to consumers with wallet services. Therefore, by 2015 we will see interoperability between wallet schemes to make transfer of money between subscribers of different wallet providers as seamless as sending an SMS is today.
A mobile wallet :
A mobile wallet is more than just your regular bank account accessed from your mobile phone.It’s your bank account, combined with your Internet banking, your credit card, your expense tracker, your loyalty cards, your coupons, your pre-paid items, and your savings accounts all in one.
What are the advantages?
Everything is in real-time. This means the freedom to transfer money to your family or friends on the go, even if they don’t have a bank account. Imagine your friend is buying movie tickets, you can easily transfer them the money needed.
A mobile wallet means real-time interaction between supplier and the customer, which means you are able to receive and use location based coupons or promotions issued with the help of NFC technology. You are instantly rewarded for being exactly where you are.
Even more than that, a mobile wallet is linked to several different cards and accounts, so everything gets integrated. Your bonus cards, your loyalty cards, your coupons and your gift vouchers all in one place so they are always with you.
A mobile wallet can also be used in a variety of different purchase situations. Physical POS, online or mobile, it does not require you to switch to a different means of payment.
It also frees you up from carrying cash, something that can be stolen or lost and because it is strictly tied to your identity there is added safety and peace of mind.
So it’s not just a wallet. And neither is it just your regular bank account. It combines these two, adds even more functions, information and finally also increases the security of your assets. A mobile wallet gives me financial control and I always have it with me
Furthermore, as merchant acquisition is a cost for mobile operators and not all merchants may sign up for a wallet to receive payments, interconnection with existing payment networks to enable
consumers to pay (in-store or online) with a debit card linked to a wallet, will be widespread by 2015.
Another driver for m-commerce is the development of card reader plug-ins that can turn mobile phones into point-of-sales devices. In this way the investment required by a merchant is reduced, stimulating payments with cards especially in markets where the cost of traditional point of sales devices is a hurdle. The first solutions are appearing in the market (for example Square and PayPal) and by 2015 these plug-ins will be commonly used.
The next step in payment is driven by the rapid market penetration of smart phones and tablets. It is estimated (e.g. by In-Stat and Parks Associates) that 1 Billion smart phones will be shipped by 2015 and that more than 80% of all mobile subscribers in the US and Europe will have a smart phone. This gives endless possibilities to make payments more convenient and to provide consumers with more attractive marketing offers.
For example, instead of carrying around plastic cards, virtual cards can be stored in the phone and the payment app will ask the consumer what payment instrument to use when making an in-store or online payment. These payment credentials can be easily provisioned into the phone over-the-air, making it cheaper, more secure and faster to provide the consumer with a payment instrument. The user-friendly interface of a smartphone will also make it simpler for consumers to view all their loyalty points and coupons and to decide to use some of their points or a coupon for a payment, or to view all incoming bills and keep track of which ones have been paid.
Mobile and Internet technology will dramatically change the way we look at e-commerce and the examples discussed above are just the beginning. What do you think will be the main drivers as we head towards 2015.
Mobile is creating the first level global playing field. For the very first time developing and developed markets will be using a common infrastructure; one that empowers people and provides an increasing degree of equality. Mobile commerce will be a key driver of this. The fastest adoption of these services is expected in developing markets. Here legacy financial services will be leapfroged, rather than a transition from services that consumers have been using for decades, they will move straight from cash to mobile.
Mobile network operators, especially in developing markets, are extremely well positioned to bring about this change. In many of these countries the only infrastructure that exists is the mobile network and the only device that people own is a mobile phone. The brands that are most trusted are the operators and if there are few financial services, cash is still king, allowing for the introduction of these new innovative financial services.
The financially underserved have always had a terrible deal. Either, services haven’t been made available to them at all (I still struggle to comprehend there are 60 million unbanked people in the US) or services have been made available at a significant cost. This is clearly on the brink of changing.
I have always loved disruptive technologies and mobile is a fantastic catalyst for this disruption. Mobile has become part of our everyday lives. Our work life, social life and one of the last bastions that is about to change dramatically – our financial lives. M-commerce is still very much in its infancy and success over the coming years will be driven by partnership and co-operation. Join us here as we discuss the exciting future of mobile commerce and what will be driving it forward.
Monday, September 10, 2012
Where M-commerce
Mobile Money Transfer:
Mobile ATM
Mobile ticketing
Mobile vouchers, coupons and loyalty cards.
Location-based services.
Information services.
Mobile banking.
Mobile StoreFront.
Mobile brokerage
Auctions
Mobile Browsing
Mobile marketing and advertising
Mobile Money Transfer
After E-commerce, m-commerce take place of this for transferring money to any where any where by using your mobile or lots of mobile apps.
you can buy any thing using your mobile and lot of mobile apps available for that.
After Coming of Android market and Apple market ,now very easy to do this one. some apps are free and some apps are little cost. that depend on apps.
all this one is possible by using technologies, and Merging technologies , because of its not possible by using one technologies.
A common trend in 2011, was the creation of retail mobile applications meant to serve as a utility and to cultivate loyal customers.
Here are some examples of noteworthy apps created in 2011, in no particular order.
Walmart has two new mobile applications designed to help shoppers make purchasing decisions and lay the groundwork for a more personal relationship with the retailer.
A brand-new Walmart iPad was launched and the retailer’s revamped iPhone app will be rolling out very soon. They are the first mobile products to be rolled out from the recently formed @WalmartLabs group, which is focused on creating mobile and social solutions that support a multichannel retail strategy.
“Online want to make it very simple to engage with the Multiple and mobile creates a great bridge to move across various channels based on what is most convenient to customers at that time,” said Paul Cousineau, vice president of mobile products at Walmart.com, Amazon.com, and much like this site.
Specialty retailer Old Navy is upping its mobile efforts with an iPhone application designed to increase holiday sales and let consumers know about new products.
The Snap Appy app lets consumers scan products in-store to unlock season-themed surprises and rewards while shopping. Additionally, the app connects to the retailer’s mobile-optimized Web site to let users shop from home.
“As our marketing evolves, we’re focused on innovating and looking for culturally relevant ways to better engage our target customer, and best serve who she is today,” said Deborah Yeh, vice president of marketing at Old Navy, San Francisco.
“Old Navy’s new mobile app, Snap Appy, addresses our customers’ desire to have a shopping tool for their mobile-based lifestyles,” she said.
Stop & Shop is expanding its pilot of an app that enables shoppers to use their mobile phones to scan, tally and bag their groceries to an additional 42 stores.
The Scan It! Mobile app was first introduced in August by the Stop & Shop Supermarket Co. at three stores in Massachusetts for the iPhone. In addition to the geographic expansion, the app is also now available for many Android devices.
“Stop & Shop is pleased with the initial launch and the ease of use and convenience provided by the grocery industry’s first mobile shopping app,” said Judi Palmer, director of marketing and external communications at Stop & Shop New England. “The expansion to the additional 42 locations will enable the company to further quantify the value to shoppers as one of Stop & Shop’s primary goals is to help our customers save time and save money.
“The new app is being promoted to our customers via the circular, email, direct mail, in-store signs — print and digital — and greeters who will be at each store during the first two weeks of availability to assist our customers with downloading and trying Scan It! Mobile,” she said. “The interest has been extremely positive to date.”
Financial institution U.S. Bank and retailer REI have teamed up to make credit card approval easier and faster for consumers shopping in-store via an iPhone application.
The goal of the partnership is to increase the number of credit card approvals for REI’s Visa card as well as speed up the application process in stores. By promoting a download of the REI Visa app at the point of purchase, shoppers can instantly be approved for the REI Visa card and begin using their reward points.
“With the app, we want to move the process of loyalty cards to mobile and make it faster for consumers,” said Dominic Venturo, chief innovation officer of the bank payment service division at U.S. Bank, Minneapolis.
“The app also moves the customer application process out of the service lane to more of an in-store experience that connects with the brand,” he said.
Online retail aggregator and search engine TheFind.com is bridging mobile, Web and in-store shopping with an Android application.
According to TheFind, the company has been dabbling in mobile for two years and has tested both smartphone and tablet apps. In particular, its mobile efforts have geared towards Android devices because of the larger screen and user habits.
“There are two types of mobile shoppers,” said Ramneek Bhasin, vice president and general manager of mobile and tablets at TheFind, San Francisco. “Consumers are either looking for a specific item, or they want to browse catalogs and products on mobile devices.
“What we discovered is that Android devices let consumers shop by browsing because the larger screens engage more with consumers,” he said.
Home improvement retailer Lowe’s is driving foot traffic to its locations via a new application that helps consumers build projects at home and shop for products via their mobile device.
Consumers can shop Lowe’s inventory via the iPhone app. The app is currently available for free in Apple’s App Store.
“Empowering consumers with the ability to access information via their preferred means is a core tenant of our business at Lowe’s,” said Colleen Maiura, spokeswoman for Lowe’s, Mooresville, NC.
“We constantly evaluate how customers prefer to interact with Lowe’s brand and mobile is clearly a medium that’s important,” she said.
Domino’s is showing that it is a force to reckon with in the mobile ordering arena via a new iPad app that lets pizza lovers customize and order their favorite pies.
The app, which was developed by Somo, lets British consumers order while on the go. Additionally, the app was also recently launched in the United States.
“Online orders account for an increasingly large proportion of sales and so mobile ordering methods such as the apps were the obvious next step,” said Nick Dutch, multimedia manager for Domino’s Pizza, Bedford, England.
“We originally launched our iPhone app last year and within just eight months, it had taken £10 million worth of pizza sales,” he said. “Hot on the heels of the iPhone, we launched our Android app in May.”
W Hotels is driving new and existing guests to its locations by letting them book rooms, order room service and get insider access via an iPhone application.
The company has integrated tips, fashion finds and incorporated a music platform with exclusive content. The app is available for free download in Apple’s App Store.
“The W global iPhone app extends the W lifestyle by providing value with exclusive music content, W Insider tips, fashion finds, trends and access to W Hotel’s The Store,” said a W Hotels spokesperson, New York.
“The app serves as a clear business driver for W Hotels as guests are now booking guestrooms and looking for content through mobile apps,” the spokesperson said.
Groupon has rolled out an iPad application to expand its local deals offerings to a wider range of consumers.
Consumers using the iPad can buy deals near their current location and redeem them electronically. The app is available for free download in Apple’s App Store.
“Our primary goals for the Groupon iPad app were user engagement and delight,” said Julie Mossler, spokeswoman for Groupon, Chicago.
“We wanted to leverage the strengths of the iPad experience, the visual and tactile elements, and marry them seamlessly with Groupon’s strength – compelling local deals,” she said
Burger chain Five Guys Burgers & Fries has released a mobile ordering application for Google’s Android platform to increase customer touch points and drive more sales.
The restaurant partnered with OLO Online Ordering to create the app, which was built by Solertium, and uses OLO’s application programming interface (API) to let customers order a quick meal from virtually anywhere and pay for it online. Five Guys also launched text-message ordering and a mobile Web site with OLO alongside the release of the application.
“This was built on top of the Five Guys online ordering platform, which allows customers to place orders and pay online and have orders transmitted directly to the Radiant or MICROS point-of-sale system at the store,” said Noah Herbert Glass, founder/CEO of OLO Online Ordering, New York.
M-Commerce, also known as Mobile Commerce, has been a buzzword ringing bells to everyone linked to tech world. To put it in simple words, Mobile Commerce is a transaction of goods or services traded through mobile devices or smartphones.
m-Commerce has already made its presence acknowledged by changing the mobile into a channel facilitating reliable & secured transactions like, banking, payment and ticketing. Despite the concept being widely known & acknowledged as an equivalent of e-commerce, many of its facets are still unexplored & unknown to masses.
A concept which started with its simplest form i.e. transactions through SMS in 1997, has evolved like a wildfire over the last 5 years. In the widespread growth of m-Commerce, advancement in mobile technologies along with Financial Policies of New world countries has acted as a catalyst.
To the m-Commerce user’s delight, along with well developed economies, now developing countries are also embracing the concept with surprising speed. With most of the common services accepted well by the English speaking markets, African countries like Cameroon, Congo, Ghana, Ethiopia, Kenya, etc. are taking a more liberal approach while drawing financial guidelines to promote the use of Mobile Commerce. This will surely add more vigor in the rapid growth of m-Commerce, expanding the market reach & accessibility for more commodities & services.
With the global outlook 2012 predicting an increase in m-Commerce utilization up to 54% (from 38% in 2011) in smartphone users, it is becoming the honeypot for all businesses.
Apart from the regular Mobile Commerce Products & Services, a new (/ refined) service Mobile Wallet is on the rise amongst new service areas.
A few other areas apart from mobile commerce that you would want to keep an eye on for drastic changes are:
- M-Banking
- Mobile Wallet
- Location based Services
Going by the statistics, the number of mobile subscribers is expected to surpass the number of retail banking accounts in a couple of years all across the globe. This will surely lead to Mobile Commerce becoming the Channel of Choice, not only limited to basic shopping & selling experience but to more complex activities. So keep a watch on it
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