M-Commerce is here!
The long awaited e-Commerce revolution on the mobile phone, popularly called M-Commerce is finally here.
Mobile phone users can now use their phone as and electronic wallet, by connecting it to a credit card, a debit card or a bank account, thereby enabling them to purchase items usually mobile phone contents but leading online payment provider PayPal who boast of over 100 million users worldwide has also joined the M-Commerce revolution. PayPal version goes beyond purchasing mobile contents to purchasing good on PayPal parent website; ebay, and to pay for goods and services from other PayPal account holders.
At presents, most contents are purchased using premium rate text messaging which cost 25% more than rates charged by M-commerce.
Though, a few years ago, a company called playbox launched this service but it did not take off mainly due to lack of the necessary
technologies. All the technologies required are now in place, a company called LUUP a joint British and Norwegian venture is expected
to lead the M-Commerce revolution in UK. The five mobile phone network operators are also setting up a rival service called
Pay4it.
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