Mobile Commerce

Growth Factors First of all, the increasing popularity of using smart mobile devices has helped advance wireless technology and computing power. For example, modern smartphones now have four-core CPUs and 2 Gbytes of memory and are communicating through 4G LTE wireless networks. Another driving factor is consumer demand for applications for buying and selling goods and services, as well as for online banking and bill payment. Nowadays, most banks and brokerage firms provide mobile apps for their customers to support online banking and trading. The final factor is the rapid adoption of online commerce due to stronger security practices. For example, authentication techniques that use multiple factors or out-of-band verification are common practices now. A variety of m-commerce products and services have thus emerged. These include mobile money transfer, mobile ATM, mobile ticketing, content (video and audio) purchase and delivery, and location-based services (local discount offers). New applications are also developing quickly. Mobile payments can be made directly inside of a mobile app running on a smartphone. Such in-app purchases can be a recurring revenue stream for developers.