What is m-commerce?
“m-commerce” is generally considered to be “the buying and selling of goods and services via mobile/wireless technologies and devices”. This includes any type of commerce that is conducted using a mobile device, e.g. purchases on Websites or apps; in-store or from vending machines; paying for travel, events or bills; or redeeming a coupon.
However there are other definitions of m-commerce that include all types of mobile transactions, such as mobile banking, any form of mobile payment or money transfer.
Mobile commerce is worth US$230 billion, with Asia representing almost half of the market, and has been forecast to reach US$700 billion in 2017. According to BI Intelligence in January 2013, 29% of mobile users have now made a purchase with their phones. Walmart estimated that 40% of all visits to their internet shopping site in December 2012 was from a mobile device. Bank of America predicts $67.1 billion in purchases will be made from mobile devices by European and U.S. shoppers in 2015.