ABSTRACT
The term “m-commerce” comes from the union of two words “mobile” and “commerce,” and refers to any transaction of monetary value occurring over a wireless communication network through the use of wireless handheld devices. M-commerce was initially hampered by issues such as slow Internet speeds, lack of standards in hardware and software, and limited capabilities of handheld devices. However, rapid technological development in various domains such as Internet, wireless communication, handheld devices, mobile payment systems, and mobile applications has ensured growing use and adoption of m-commerce today. Widespread acceptance of m-commerce is attributed to its various features such as ubiquity, convenience, localization, personalization, and identifiability. Nevertheless, m-commerce suffers from disadvantages such as the cost of setting up wireless infrastructure and restricted functionality of handheld devices. Furthermore, major challenges faced by m-commerce also include security risks involved in online mobile payment systems and lack of consumer trust in the same. Today, m-commerce applications used widely include mobile banking, mobile purchasing, location-based services, mobile ticketing, and information services. This chapter provides an introduction to the 4concept of m-commerce. Its meaning is explored through a comparison of definitions published over the last two decades. The evolution and growth of m-commerce is traced parallel to advances in the domains of hardware, software, and networking. Moreover, the advantages, disadvantages, and challenges of m-commerce are described. The applications of m-commerce today in various countries such as Japan, Finland, the United States, the United Kingdom, and India are also outlined. In today’s dynamic world of rapid development, the future of m-commerce is quite difficult to speculate. However, based on the trends related to m-commerce growth as discussed in the chapter, m-commerce can be expected to grow and impact and get impacted by human lives.
