Mobile Payments for Conducting M-Commerce

Mobile Payments for Conducting M-Commerce

Rupali Ahuja (University of Delhi, India)
Copyright: © 2016 |Pages: 18
DOI: 10.4018/978-1-5225-0236-4.ch008
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Abstract

Mobile commerce or M-commerce facilitates users to conduct commercial activities using mobile equipment like Smartphone, tablet etc. M-commerce has come a long way since its inception in 1997. With adoption of 4G networks, it is believed that M-Commerce will outpace E-commerce soon because of its high speed, convenience, flexibility and mobility features. Mobile payment is an integral component of M-commerce. Any transaction on mobile devices involving monetary value has to go through a payment mechanism. With increased interest of users in M-Commerce, the mechanisms available for mobile payments are becoming more prevalent and are continuously evolving. This chapter describes stakeholders of the mobile payment ecosystem, mobile payment technologies, payment carriers, payment gateways and issues involved with them. We also discuss the popular payment options available in M-commerce market space today.
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Background

With increase in the number of mobile users and availability of high bandwidth 4G networks, mobile phones are not merely being used for communication and entertainment purpose. Consumers have steadily started using mobile phones as tools for banking, paying bills, budgeting and shopping. In the past, consumers used mobile payments mainly to purchase digital services that they consumed on their mobile devices. Recently, however, consumers have expanded use of mobile payments and have adopted it for purchases of physical goods, payment of bills, shopping, ticketing, paying at kiosks, toll plazas, automated vending machines etc. A Survey of Consumers’ Use of Mobile Financial Services by Federal Reserve Board’s Division of Consumer and Community Affairs (Governors, 2014) on US adult population revealed that by 2014, usage of mobile payments had increased to 22 percent for mobile phone users and increased to 28 percent for Smartphone users. Forrester forecasts that US mobile payments will reach US $90 b in 2017.

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