Mobile commerce (m-commerce) is defined as the buying and selling of products and services through the use of wireless mobile devices. M-commerce is considered the next generation of e-commerce and this particular technology will allow users to shop through the Internet without a plug-in terminal.
WAP (Wireless Application Protocol) allows mobile devices to view the Internet via mini-browsers. Hypertext language is what makes Internet viewing possible and WAP standards translate these codes specifically for mobile phone use.
Mobile commerce can be used as an electronic wallet to make purchases, to download books for entertainment, and to surf the Web. More serious uses such as paying bills or purchasing a plane ticket that is downloaded to the mobile device can all be completed via m-commerce.
FutureMobile commerce has caught on in some parts of the world but in other areas, such as the Bangladesh, barriers to m-commerce exist. User limitations, security concerns and negative perceptions about m-commerce are being addressed in order to keep m-commerce a viable form of business.
m-Commerce services provide an individual mobile phone user with the ability to securely and conveniently manage personal finances, fund transfers, point-of-sales purchases and other transactions electronically using a mobile device. Users can utilize multiple cards for payment and access various other value-added services such as coupons, ticketing etc. from their mobile devices. Hypertag’s m-Commerce offerings consist of a portfolio of mobile financial services and an application framework for add-in applications. The service ensures end-to-end security throughout the platform with the users' banking and credit information stored with their financial institution.
Our m-commerce services supports NFC (near-field communications), a specification being advanced by both banks and wireless carriers, that allows mobile devices to communicate automatically with contact-less payment readers at merchant outlets and with signs, posters, and other media equipped with NFC chips.
Platform Function:Hypertag’s Mobile Messaging Platform is capable of delivering several services to virtually any GSM/CDMA mobile handset and telecom operators. Hypertag combines signaling information from the mobile world with innovative applications running concurrently on its own IT applications platform and thereby paving the way for mission‐critical international communications and transmission of data services.
- Faster processing
- Spending lift
- Mobile couponing - Reduces need for cash
- Increases customer loyalty
- Drives merchant card usage
Where Hypertag’s providing:
- Business models
M-commerce adds value to all players in the ecosystem but barriers exist:
- Saves time
- Eliminates the hassle of handling cash
- Gains flexibility with one interface for many payment options
- Has enhanced security
Banks and Card Networks
- Reach new markets
- Increase transactions
- Lower costs
- Leverage fraud mitigationand compliance processes
- Build customer loyalty andstickiness
- Deepen customerrelationships
- Gain new revenue streamsfrom processing and billing
- Have opportunity todisintermediate banks