Abstract:

Mobile phones are not just a source of communication now a days but are becoming retail outlets and are used for the purpose of buying and selling of tangible products, services, marketing of goods and most importantly for monetary transactions. The term M-Commerce refers to any operation or transaction that involves monetary value (Grant & Meadows, 2013). M-Commerce also includes the purchases on websites and applications, in-store purchases, paying for travel, events and utility bills e.g. it includes all the forms of commerce that is conducted with the help of mobile device. According to a report published by Digi-Capital in 2014 M-Commerce is expected to exceed the level of $500 billion by 2017 in Asia, America and Europe (What is m-commerce? How big is it really? And why any company who sells anything needs it, now., 2014). The term M-Commerce was originally introduced in 1997 by Kevin Duffy. The term was introduced during the launch of Global M-Commerce Forum and was used to introduce mobile as a retail outlet by delivering the electronic commerce capabilities directly into the consumers hand by using wireless technology. The research indicates that mobile e-commerce is expected to reach the high levels of $626 billion dollars until 2018.