A survey on mobile commerce

Mobile commerce or M-Commerce is a term used for transaction conducted by mobile equipment like mobile phones, personal digital assistants (PDAs) for social and financial activities using wireless internet services. It is an extension of electronic commerce. Durlacher (1999) defines m-commerce as “any transaction with a financial value that is conducted via a mobile telecommunication network.” It is used to buy tickets, reservations, paying premium, buying gifts and recharging mobile etc. In spite of M-Commerce is subset of Ecommerce it has many advantages like accessible at any place, more secure and suitable. M-commerce could be particularly important in India, where only a small fraction of the population currently has either a bank account or a credit card. Several problems will have to be overcome if m-commerce is to emerge as a viable option for the country's entire population. These barriers include Lack of consciousness, Concerns about security., Lack of a simple, standardized payment mechanism, discrepancy between service providers and network operators, diverse environment., Lack of high speed connections. This article undertakes a thorough examination of the conceptual background and existing regulatory framework of this relatively new business field, in order to provide a efficient and inclusive understanding of M-Commerce, including its utilities for both consumers and service-providers, so as to make them aware of the new business opportunities arising out of this convergence. For this purpose an overview of modern mobile services is also provided.