Mobile Payments

Clearly, it is becoming a bigger part of e-commerce as a whole, resulting in marketing to flip on its head. The ever-growing number of consumers that shifted to mobile requires marketers to develop new strategies to attract and engage potential consumers who are on the go, or who prefer to use mobile devices for all types of online transactions.

Payment processing has become more universal. Each transaction, whether it's in-store, eCommerce or mobile, needs to deliver a seamless integrated buying experience at any time of the day and on any device being used.

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

Mobility has brought a huge difference in the IT industry. Most companies are dependent on doing business via mobile devices. Most individuals with mobile phones, this is their only connection to information and entertainment.(class notes) Every company is now looking to emerge on top by using the latest mobility features that are not only efficient, but also effective. Mobility will allow for easy access of company documentation, easy collaboration and communication between teams both here and also offshore. In this paper today I will write about Mobile payments and how it affects retail competitiveness and operations.

. Mobile payment users >190 MM in2012, which is over3 % of total mobile users worldwide a level considered as "mainstream”

The cost is identified as an investment concern. Customers will often opt for an option that is viable which refers to that ventures that which offers a strong performance-to-price advantage. Fenu &Pau (2015) analyze the tendencies and features of mobile banking applications. The journal establishes that banks invest more on mobility through enhancing mobile applications by offering mobile payment services that are new. The feature of the device being used also play a role. In some cases, certain mobile may have limited capability of inputting data or displaying it making implementations of mobile banking applications more

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 value proposition it offers is that your money can be received via e-mail quickly without paying a big commission as it is with credit cards and with certainty that this is transferred by a large institution for the when the merchant receives the notification via mail and money already in your account that can transfer money to another account, and if necessary transfer to the account of another person, one of the advantages that this system has besides being very fast, this operation is less heavy and you do not have to be waiting to get money because, as is the case of check and credit cards money sometimes delayed, another

Mobile app development doesn 't just enhance sales but also creates new frontiers for eCommerce such as monetizing faster deliveries and other special logistics services, making it easier for global customers to shop and order in their native languages and changing how people browse and shop by optimizing searches through deep links that are embedded within the apps. Even regular retailers throughout the global community are now exploring the benefits of marketing B2B products, so eCommerce companies face performance pressures from constantly evolving business threats and customer buying behaviors that are often defined by loyalties to their mobile devices and favorite mobile

What is m-commerce? In the past, business typically mass-produced goods and services, selling them through store, catalogue and phone. In the 90’s, the Internet produced a shift to these marketing strategies; forcing business to reevaluate its own business models and how it communicates its product and services to customers. This diffusion of commerce through the Internet created e-commerce, and it unleashed a revolution in buying power. Today, with the rapid production of the mobile phone market, mobile telephone offers the potential platform for unprecedented penetration of the Internet and services such as m-commerce. According to Buse and Tiwari (2007) M-commerce is defined as

The market for mobile payments is growing at an all time high with a projected increase in global mobile payment volumes. In fact, payment transactions are expected to increase 22% by 2017. The market landscape of mobile payments

generation of new service products (Devlin & Wright, 1995). Now a day, Smartphone‘s enable consumers, advertisers and publishers how to better engage, socialize using the ubiquitous experience’s of advanced platform by leveraging it‘s of the firm and also focused of income statement is on the operating revenues and expenses. User groups of financial reports for decision–making require data related to all easy to use and availability characteristic [comScore, 2012]. In addition to Mobile money continues to help expand financial inclusion across the world, especially in countries with large unbanked populations. Services are now available in 85% of the countries where the vast majority of the population lacks access to formal financial

The banking industry has seen an unprecedented growth, and the reason for this is due to the technological developments that provide many new platforms for traditional banking services (Sohail and Shaikh,2008) . Mobile banking applications consider the latest edition to get the financial transactions through Smartphone.

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).

Citibank had designed its own mobile banking software that can be downloaded and installed on more than 100 handsets over any carrier’s network