The delivery of electronic commerce capabilities directly into the consumers hand, anywhere, via wireless technology. Which was what Mobile Commerce was coined in 1997 by Kevin Duffey Group Telecoms Director of Logica during the Inaugral Plenary Conference at Heathrow Hilton,UK in 10 November 1997.

Mobile Commerce has been defined as follows: "Mobile Commerce is any transaction, involving the transfer of ownership or rights to use good and services, which initiated and/or completed by the using mobile access to computer-mediated networks with the help of electronic device."

Mobile commerce, or m-commerce, has dramatically transformed the dynamic between buyer and seller in this constant technologic advancing world. In this new digital age, customers want to feel empowered to use mobile technologies to make the shopping experience user friendly, convenient and pleasurable-just as and when they have the urge to shop.

One the exemplary modern example of how Mobile commerce that justify the above statement is TESCO Homeplus virtual store in South Korea which out of home storefronts is being installed in the subways with QR codes and consumers just need to use the smartphone to shop by scanning the QR code and the product will be automatically added to the online cart while they are waiting for the train. Once the online purchase is done, it will be delivered to the consumer door right after they get home. TESCO Home plus is so successful because of implementing the right technology in the hectic lifestyle of South Korea. This is just the tip of the iceberg of the many products and services of what mobile commerce is capable of doing.

HISTORY

Mobile Commerce services first penetrated into the market in 1997 with 2 mobile-phones enabled Coca Cola vending machines installed in Helsinki area in Finland. Those two machines are able to accept payment via Short Message Service (SMS) text messages. On the very year, Merita Bank of Finland launched the first phone based bank service via SMS.

Two major national Mobile Commerce internet platforms were introduced in 1999 by a Japanese company named I-mode and Smart Money. I-Mode has similar function as T-Mobile’s web2go browsing interface which enables users to surf the net, download games, view email, and access other services. Services related to Mobile commerce expand rapidly around the globe in early 2000. Mobile parking payments service by Norway. Train ticketing via mobile device offered by Austria. Japan offered mobile purchases of airline tickets.

In April 2002, building on the work of the Global Mobile Commerce Forum (GMCF), the European Telecommunications Standards Institute (ETSI) appointed Joachim Hoffmann of Motorola to develop official standards for mobile commerce. In appointing Mr Hoffman, ETSI quoted industry analysts as predicting "that m-commerce is poised for such an exponential growth over the next few years that could reach US$200 billion by 2004".

The first book to cover mobile commerce was Tomi Ahonen’s M-profits in 2002. In the following years 2003, Tomi Ahonen together with Steve Jones started the first university short course on mobile commerce in university of Oxford.

Businesses are beginning to use mobile commerce as a more efficient way to communicate and understand their customers better as they exploit the potential of mobile commerce and its market.

Since the launch of the Apple and Samsung Smart Phone, mobile commerce has transfer from SMS systems and into actual applications. SMS has significant security vulnerabilities and congestion problems, even though it is widely available and accessible. In addition, improvements in the capabilities of modern mobile devices make it prudent to place more of the resource burden on the mobile device.

Products and services

Mobile Money ServicesMobile Money Transfer

Money transfer is done through the use of mobile phones via SMS or Java application. It enable user to withdraw, and transfer money easily with a mobile device.

Mobile ATM

With the introduction of mobile money services for the unbanked, operators are now looking for efficient ways to roll out and manage distribution networks that can support cash-in and cash-out. Unlike traditional ATM, Mobile ATM have been specially engineered to connect to mobile money platforms and provide bank grade ATM quality..

Mobile ticketing

Tickets can be issued to the mobile phones using various technologies and users can immediately use/present their ticket.

Mobile vouchers, coupons and loyalty cards

Through the mobile ticketing technology, the distribution of vouchers, coupons and loyalty cards which are represented as a virtual token can be sent to the mobile phone. Consumer can present the mobile phone that displays these tokens to receive the same benefits instead of the traditional token. Stores may also issue virtual coupons to consumer using location based services to ascertain if they are nearby.

Content purchase and delivery

Currently, mobile data content purchase and delivery range from the sale of ring-tones, wallpapers, MP3 games, E-book, video etc. The convergence of mobile phones, portable audio players, video players, cameras and GPS into a single device is increasing the purchase and delivery of full-length music tracks, video and other application. The amazing download speeds of 4G networks make it possible to buy a movie on a mobile device and in a couple of seconds.

Location-based services

The GPS system that is inbuilt in the mobile phone provides the location of the user which is an important piece of information used during mobile commerce transactions. By knowing the location of the user, it allows for location based services such as:

Local discount offers

Local weather

Tracking and monitoring of people

Information services

A broad range of information services can be catered to mobile phone users similar the way as it is delivered to PCs. These services include:

News

Stock quotes

Sports scores

Financial records

Traffic reporting

Customized traffic information based on a user’s actual travel route which then transfer to a mobile device. This customized data is more useful and relevant to the user than a generic traffic report broadcast, but was impractical before the invention of modern mobile devices due to the bandwidth requirements

Mobile banking

Banks and financial institutions begin to use mobile commerce to allow their customers to access account information and make transactions, such as purchasing stocks, remitting money in a hassle free manner. This service is often referred to as Mobile Banking.

Mobile brokerage

Stock market services offered via mobile devices have also become more popular and are known as Mobile Brokerage. They allow the subscriber to react to market developments in a timely fashion and irrespective of their physical location.

Auctions

Mobile reverse auction solutions have soar in popularity over the past few years. Unlike traditional auctions, the reverse auction also known as low bid auction charges the consumer’s bill each time they place a bid. Many mobile SMS commerce solutions rely on a one-time purchase or one-time subscription; however, reverse auctions offer a high return for the mobile vendor as they require the consumer to make multiple transactions over a long period of time.

Mobile Browsing

Using a mobile browser-a World Wide Web browser on a mobile device-customers can shop online without having to be at their personal computer.

Mobile Purchase

Catalog merchants can accept orders from customers electronically, via the customer’s mobile device. In some cases, the merchant may even deliver the catalog electronically, rather than mailing a paper catalog to the customer. Some merchants provide mobile websites that are customized for the smaller screen and limited user interface of a mobile device.

Mobile marketing and advertising

Main article: Mobile marketing

In the context of mobile commerce, mobile marketing refers to marketing sent to mobile devices. Companies have reported that they see better response from mobile marketing campaigns than from traditional campaigns. Mobile campaigns must be based on the global Content Generationor what is called Generation C and four other ‘C’s: Creativity, Casual Collapse, Control, and Celebrity. A brief introduction… Creativity: let’s face it, we’re all creatives, if not artists! (Notice we didn’t mean talented artists ;-). And as creativity normally leads to content, the link with GENERATION C is obvious. Which then brings us to Casual Collapse: the ongoing demise of many beliefs, rituals, formal requirements and laws modern societies have held dear, which continue to ‘collapse’ without causing the apocalyptic aftermath often predicted by conservative minds. From women’s rights to gay marriage to not wearing a tie to work if you don’t feel like it[7][unreliable source?]

Research demonstrates that consumers of mobile and wireline markets represent two distinct groups who are driven by different values and behaviors, and who exhibit dissimilar psychographic and demographic profiles.[8] As a result, successful mobile commerce requires the development of marketing campaigns targeted to this particular market segment.

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