24-03-2011, 10:49 AM
Mobile Commerce.docx (Size: 35.03 KB / Downloads: 42)
Mobile Commerce – The Road To A Wireless Future
Abstract:
Over the past 10 years mobile phones have changed the way that we live and work. The mobile phone seems to give us more power as individuals to do what we want and be who we want to be. Mobile phones are connecting people more than ever before and becoming new glue holding together social interactions and relationships. Mobile Commerce (m-commerce) is a natural evolution from E-Commerce into a digital and mobile world. M-commerce is the use of information technologies and communication technologies for the purpose of mobile integration of different value chains and business processes, and for the purpose of management of business relationships. Companies can offer customers new mobile services that make everyday life more convenient. One can examine one’s bank account, buy and sell shares, check stock market prices or make payments online. With m-commerce, it is possible to view train/plane timetables in any location, book and pay for tickets. The need for security is very significant because mobile device will support payments. The key factors to make mass mobile commerce happening across the globe are Innovative Business Models, Consumer adoption, Technology availability and Interoperable Systems. We focused the key practices for the overall success of a mobile commerce strategy. These practices are mobile payment, campaign management, end-to-end security, and compliance. We conclude with the limitations of m-commerce and also stressed the readiness of all the players for the big global market which will blossom in the years to come.
INTRODUCTION
Throughout the 1990s the introduction of the internet and ecommerce reshaped the way that businesses do business and the way that consumers interact with businesses. Businesses took the opportunity to automate many processes that before would have been handled manually. Many people consider mobile phones as extensions of themselves. As technology advances, mobile phones are able to be used to extend the reach of the person and delegate many functions that would previously have been more time consuming or would have to be carried out in person. A mobile phone makes us available to others, be they businesses or individuals, 24 hours a day, 7 days a week. It gives enormous opportunities for businesses to really connect with and understand consumers and for consumers to have more meaningful relationships with businesses.
E-commerce will completely change as Mobile Commerce (m-commerce) because mobile devices are more user friendly than computer. Mobile commerce - or M-commerce - is set to become the most significant economic and cultural development of the first decade of this century. The convergence of mobile technology and the Internet will revolutionize the way businesses interact with consumers and with each other. M-Commerce will establish wireless services as an extension of today’s e-business strategies, enhancing existing business to business commerce and enabling high street companies to do business with their customers any time anywhere. Another technology that is adding to the potential of wireless communication is Bluetooth, a technology allowing cable-free connection between mobile phones, PDAs and other devices. Internet now can be browsed by PDA and Mobile devices. Mobile Screens are increasing day by day. Peoples checking movies details and many other useful information on their mobile devices. Many companies accepting payment by SMS payment system. Companies can
use Mobile Commerce (m-commerce) to increase sales of their products and services. Mobile commerce can bring huge buyers for companies. One of the key enabling technologies of m-Commerce is WAP - Wireless Application Protocol. Companies can make online catalogs of products and services so that mobile users can access that catalog from their mobile devices.
Today’s mobile commerce markets are still at a fairly early stage of development. Yet, mobile commerce is expected to be an important opportunity, so the key stakeholders such as network operators, financial institutions, and mobile terminal vendors are investing to develop both the market and the technology. For developers and service providers, mobile commerce offers the chance to diversify their scope of operation. There is a clear need both for standardized solutions that merchants can implement, and to make wireless processing attractive.
BUSINESS OPPORTUNITIES
Companies can offer customers new mobile services that make everyday life more convenient and are easily accessed from the mobile phone. Application categories include:
A.Wireless access to Internet content - consumers benefitfrom immediate access to information they need at that moment.
B. Wireless access to corporate IT systems and extranets - corporations can offer new channels for their services and also create totally new services for their mobile customers.
C.Wireless access to personal information - wireless device users can access their email, calendars and even screen text headers for their voice mail messages.
D.Intelligence Telephony services - carriers can offer their customers secure access to their personal and other customer related information now located in the carrier configuration, billing and other databases in the Intelligent Corporate Business Application, allowing employees to continue to access intranet business applications regardless of time and location.
APPLICATIONS
1.Email: will become a way of life, enabling users to communicate anywhere in the world. When practically anyone in the country can email - as has already happened in Finland - the phone becomes an extension of the person. It will change the way the whole nation communicates.
2.Entertainment: Individuals will be able to buy theatre tickets, book restaurants or place bets from any where charged to your telephone account or have the main news items of the day delivered to you on the hour.
3.Shopping: You can order a meal on the way home from work, or join an online auction from any location.
4.Money: You can examine your bank account, buy and sell shares, check stock market prices or make payments online.
5.Business Applications: You can continue to keep in close touch with the business with wireless access to internal information systems and applications. 4
VISION OF M-COMMERCE
The future technology will enable :
Download music from the Internet - you will be alerted of new tracks according to your personal profile. The charge is automatically debited from your prepaid account, View train/plane timetables in your location, book and pay for tickets Check bank balances and transfer money between accounts. Receive alerts that stock you are interested in has reached your predefined buying threshold: buy the stock, account is debited. Review share portfolio, read tips and analyze reports Request information about restaurants, cinemas and theatres and make booking. Payments are made by m-Commerce, automatically sent to the phone for authorization. Payments for business expenses can be automatically sent to Finance Department.
Security
Security is one of the critical issues for successful adoption of m-commerce. In mobile commerce, security measures should be adjusted according to the value of the transaction and there are different solutions available for different needs. And, with the innate portability of mobile devices, a higher level of security is required if stolen devices are not to be used to purchase goods or send deceptive messages. In time, it is expected that the mobile device will support payments, hence the need for security is very significant. A digital signature can be used for authentication or non-repudiation purposes (e.g., signing a document or confirming a transaction), which are key conditions in establishing the merits for legally binding commercial transactions.
TRUST
To feel confident to trade in this marketplace, both business and individual consumers have to feel sure that the risk of fraud is minimized. Before carrying out a transaction electronically, a trader must be able to reliably identify the other parties and be sure they are trustworthy. When actually trading, you need a level of assurance that the messages you receive are genuine and have not been tampered with during transit. Messages must be kept private, unreadable to all except the communicating parties, to ensure Eaves dropping is not possible.
To deliver these business imperatives there are four main security features that are needed to create a trusted, secure environment for trading electronically:
Confidentiality - electronic messages that are sent must not be visible to eavesdroppers.
Authentication - communicating parties must be certain of each other’s identity.