Importance Of M-Commerce

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The E-commerce and M-commerce industry- M-Commerce is E-commerce conducted on mobile phones using internet. M-Commerce (mobile commerce) is the buying and selling of products and services through wireless handheld devices such as mobile phones. M-Commerce enables users to access the internet without needing to find a place to plugin. Different types of on-line transactions are carried out using mobile phones, mobile applications and internet. People can carry and access mobile phones with preserving the privacy anytime anywhere. Thus, ubiquity, mobility ,flexibility, reach ability features of MCommerce make people possible to do shopping, search various products, transfer funds, ticket booking, utility bill payment anytime anywhere. Mobile…show more content…
State Bank Freedom of State Bank of India, iMobile of ICICI, Axis Mobile for Android of AXIS Bank are the various mobile banking applications which are used for online fund transfer, utility bill payment. IRCTC Connect is used for railway ticket reservation, Mpesa by vodafone is used to transfer fund, pay utility bills, and BookMyShow is used to book movie tickets. The development of low-cost smart phones and low mobile tariffs helped for tremendous growth in mobile internet subscribers and hence tremendous growth of M-Commerce in India. In India 60% of internet users access the internet via their mobile phones. The number is expected to reach 315 million by the end of 2017. Mobile internet is the next big revolution in India and as per a study conducted, around 94% Indian Smartphone users have used their device to access internet from their phone. 56% of smartphone users in the country access the internet many times a day. 40% users surf the Net at least once a day. Only 6% never use their phone for connecting to the Web. About 76% of smartphone users in India access social networking sites on their devices. 77% of smartphone owners listen to music; while 33% use it for playing games and 32 per cent read newspapers or…show more content…
Smartphone usage has grown at a rapid pace in recent past. We expect it to grow even faster with demonetisation and entry of new service providers such as Reliance Jio. It also observed that 60 per cent of the online shopping website users prefer mobile devices. It noted that mobile wallets have become a key enabler for m-commerce as most people are doubtful to share their bank account or credit/debit card details due to the fright of sensitive information getting compromised. While online banking and even mobile banking has been there for a long time, mobile wallets have made it more convenient to shop. From grocery to cab rides to movie tickets to food deliveries to utility bills, almost anything can be bought and paid via simple mobile apps, any time and at any place. The huge usage of smartphones, mobile internet and apps has given boost to M-Commerce Industry in India. As a result M-Commerce industry in India is predictable to capture 80% of the Indian E-Commerce market by 2020, attaining a sales figure of ₹2.48 lakh
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