Mobile commerce popularly known as m-commerce is actually just a subset of e-commerce. The term itself was coined in 1997 by Kevin Duffy. It is essentially a way of carrying thousands and millions of retail shops in your pocket. Let us study a bit more about mobile commerce.
Mobile Commerce (M-Commerce)
Very simply put M-commerce entails the e-commerce transactions done with a mobile phone. So M-commerce is the use of mobile phones to conduct any type of business transaction. It takes the help of the e-commerce background and WAP technology.
The use of wireless technology (WAP) to conduct sales of goods, provide services, make payments and other financial transactions, the exchange of information etc. is the basis of mobile commerce.
M-commerce is actually a rapidly growing sector of e-commerce. Nearly 70% of the online transactions that occur in India happen from mobile phones. Globally it is a 700 billion dollar industry.