Shruti Speak's

Mobile commerce is the combination of mobile financial services and mobile customer relationship management (CRM). Some of the major players are : - mBanking -    account management,   account alerts,   check account deposit,   transfer funds,   customer service via text etc. mPayments -   Most of the major brands are building mobile-specific apps to serve their clients for example     Companies like Firethorn, Sybase 365, Monitise, Digby, Kony Solutions, Pay Pal, Vaultus, VivoTech, PayPal and WorkLight etc,  purchase goods and services, pay a bill using a phone, ticketing. mVouchers -    coupons and gift cards,    mobile vouchers. mRemittance -  Mobile commerce also allows airtime on phone, money transfer between people and organizations.    Airtime transfer becomes a token for money transfer. For eg Companies like Sybase 365, P2P Cash, Obopay, Bling Nation.

The advantages of m-commerce are :                             1. Providing wider reach. 2. Reducing transaction cost 3. Streamline business   processes. 4. Competitive pricing. 5. Reducing time to order. 6. Purely personal 7. Secure 8. Location and time independent The disadvantages of m-commerce are : 1. Technology constraints of mobile devices (memory,    Processing power, display capabilities, input methods) 2. User interface is often difficult to learn how to use. 3. Use of graphics limited 4. WAP and SMS limited to small number of characters and   Text. 5. Limited bandwidth  6. Small screens of most devices still limit types of file and                      data transfer . 7. WAP and SMS limited to small number of characters and         text.  8. Cost of establishing mobile and wireless broadband        Infrastructure. 

The transaction starts from the lady, whose on the phone making transactions through phone, then the transaction takes place from merchant , then to merchant bank , then to processing bank through internet payment is being processed from consumer bank.

M-Commerce is also said as next generation E-Commerce. It is firing up its importance especially in the field of Retail Industry. This is becoming a new and the latest way of connecting with customers. This is evidenced by the fact that mobile devices account for more than a quarter of online shopping and mostly on festive seasons like Christmas or New Year. Through M-Commerce you can easily select various categories and sub-categories.There is also an option of searching for the latest offers at restaurants, spas, and other entertainment places which are nearby or far. M-Commerce takes place through various mobile devices, mobile phones, Personal Digital Assistance (PDA), a Smartphone, or any upcoming mobile equipment like Dastop Mobile Devices. Various Services provided by M-Commerce are:- 1) Financial Services like mobile banking or brokerage service. 2)Retail Service 3)Informative Service 4)Location Based Services like local discount , offers etc 5)Mobile Marketing and Ad