Innovation of Mobile Phone Payments

Besides, there are always many new entrants enter the market with the flow of labor and capital (Laudon, 2014, pp. 124). Although the requirements for the entry to the mobile market is relative higher than others, the number of new entrants are considerable while customers are more selective. As a result, those companies like the T-Mobile in this case that are lack of competitive advantages will be omitted by customers. As for the substitute, the development of entertainment tools decrease the desire of the mobile phone although there is little instrument can replace the mobile phone

As we step into a new decade, we are experiencing tremendous changes in the technological environment with constantly emerging advancements. Innovations are appearing everyday in a turbulent market flooded with big players and more new entrants everyday. Mobile phones have become an essential part of a person’s image and social identity.

Despite however person thinks, the world is divided between people who think how useful the cell phone is and what the cell phone change our life to the best and help us at our work and make the communication easily between people so it develops our society the other people who are convinced that it damages our life and decrease the social interaction comparing to the past.

However, from another point of view, the development of the mobile technology also has its negative side. They say that every coin has two sides. Although mobile technology brings convenience to human’s lives, it would influences people’s lives negatively on both

Worldwide demand for Smartphones was robust as a result of the availability of high-speed wireless networks, mobile access to corporate intranets, and the broad acceptance of e-mail and text messaging for both business and personal communications.  The Smartphone industry was projected to grow from 10 percent of the global mobile market to 30 percent over five years. The growth is clear when considering in 2007 that the US enjoyed a 100% increase in user numbers with a 53% increase worldwide. Sales of units are predicted to be 500 million for 2008 and 2009 globally.

About 91 percent of the US population has a mobile phone. Given that fact, more than nine out of ten people reading this essay own a mobile phone. In 2000, only about 53 percent of the US population owned a mobile phone. The use of the telephone just keeps on rising, and it is very hard to tell if it will ever stop. For many, they have never known a time without cell phones. The phone has changed over time and has revolutionized the way we live. Therefore, it is very important that everyone becomes more educated on the topic. In particular, it is important to learn about the history of the phone, inventors who have contributed to the phone, and how the phone has lead to controversies in today’s society.

Mobile payments are defined as payment services operated under financial regulation and performed from or via a mobile device, namely a cell phone. The use of mobile payment is a substitute for traditional forms of payments. The idea to use non-coin-based currency systems has been developing for years yet it is only now becoming popular. Nowadays, most phones are produced from three or four companies due to economies of scale. This has meant that having five or six mobile payment apps is feasible and profitable due to network effects. If there were a hundred mobile payment apps, less people would use them because it is likely that no two people will have the same app, and thus it cannot be used for

After decades of civil war and instability, Somaliland, a poor African nation had few banks. To overcome this problem, the country successfully cultivated mobile technology to carry out day to day transactions instead of cash. Even the street vendors in Somaliland accepts payments made through the mobile phone. On an average, a person does 34 transactions per month through their phone. 51 out of 100 people have mobile subscriptions and approximately 40% use the mobile money accounts.

Mobile phones are no longer a communication device, but can be used for several other purposes including executing business operations. After internet banking, it has added another dimension to banking by enabling any kind of banking transactions like payments, balance inquiry and transfer of funds, just by using your mobile phone. Banking transactions over the mobile phone are usually performed either by sending a SMS to the bank or by using mobile internet. When you send a SMS requesting a financial

The aim of the study is to evaluate the factors that influence the development of mobile payments, their strengths and barriers to development. I will present several key factors such as the impact on the environment and culture mobile payment changing environment, business or rapidly progressive changes in technology and relevant regulations and quite often set of new standards. I will discuss technical aspects such as safety and confidence in mobile payments, which is still not too high. So in the beginning it should be clarified what mobile payments are. Mobile payments also called m-payments are non-cash payments made by mobile device like smartphone or tablet and use mobile technologies such as. SMS, NFC, USSD, WAP. If we want to use mobile payments we

The importance of communications today, has made the mobile phone a basic need for everyone, and the possibility of being in contact with the world at any time or place is a function offered exclusively by mobile phones.

In many developing countries it's common for a person to have a mobile phone but not a bank account. In fact, more than 1 billion people fit this description, and the number is only likely to increase. To that end, many companies are considering how to give residents access to banking services via their handsets. The GSM Association predicts that by 2012, nearly 300 million of the previously "unbanked" will be using some form of mobile banking.

Mobile phones have become a necessity for life, and without this thin gadget, many people would feel incomplete. We now use mobile phones in our everyday life as a phone, voice recorder, diary, alarm clock, watch and for making and confirming appointments, dealing with clients etc. Mobile phones are for many, fundamental when organising their lives. Mobile phones are not simply an electronic gadget, and it is difficult to define in one way about the usage of mobile phones. With the advances of technology, mobile phones are becoming a way of life. Mobile phones are not used as just communication tools but are also considered as devices which have strong communication networks along with the other functionalities such as audio solutions, FM

We are living in an electronic age. The whole world is taking a new turn with every fraction of time. It has given birth to globalization. The world has been contracted and concise at a tip. There are a lot of new means of communication which have made our life so simple and easy going. Mobile phone be the most used present-day phenomenon in this fast-growing time. Mobile phone is a revolutionary step in the field of tele-communication. We had the days when the telephones only served the purpose of communication through sound. Mobile phone has completely changed the concept of the telephoning. Now a phone is not only a mere phone but it is a lot. The mobile phone has changed how people’s minds work.

The last decade has witnessed a lot of growth of mobile communication devices and wireless technologies across the globe. This has led to a change in the way many activities are conducted and opened the way for m-commerce, which is e-commerce's next evolutionary stage. The significant power of m-commerce is primarily as a result of the ability to connect wireless devices anytime, anywhere (The Future of Mobile Payment Systems : Rise of the Mobile Wallet 2012-2017 [Electronic version], 2011).