Mobile Commerce

Mobile Payment

Mobile payment or (m-payment) is an extension of e-payment technology, customized for mobile devices, described in ‘m-money’ for banking and sundries transactions. It is a payment technology that retail merchants cannot afford to ignore, but latch onto, to boost consumers patronage of their online businesses for maximum returns.

Pointer to the fast growing confidence of online merchants in this payment method, is evidence in the rate at which, high-profile marketplaces vendors are developing, customized m-payment software applications on their business stables complimenting, other e-payment options for consumers convenience.

In a recent publication, posted on Reuters newsletter of August 6 2012, by one Adam Blair; it was reported that, eBay is currently test-running its newly developed “eBay Now” software. The application is described as, “Same-day Mobile Delivery” software. Motive behind this development is not unconnected with moves to counter, rapid “Distribution Centers” which was said to be on the increase.

eBay now operation is being tested on iPhone and i Pad devices, is hinged on “Pay on Delivery” basis. Registered consumers browse online, from the installed apps on their mobile devices for goods in affiliate stores then, click a “Bring It” button at the store, where the desire items is located. The click action, relay an order signals to closest courier service partner, who in turn, approach a nearest partner store to lift the items, for onward delivery to the customers residence.
Payment is made on delivery by the customer upon satisfaction, either on the Apple device of the courier which is enabled for the service or, on the consumers own device.

The report above illustrate collaborative efforts at play, in the entrenchment of mobile payment solution in e-payment system. A high profile marketplaces operator, collaborating with software developers, with a view to outsmart other niche competitors in the game, for the soul of online retail market.

This development is a rapid growing phenomenon in e-commerce environment world-wide. In fact, it is being predicted that mobile payment system will outpace the e-commerce payment system in near future. Thus, small and medium scale online retailers are not lying low on this development.

While the big marketplaces operators can singularly, afford the re-engineering of their payment gateway technology interface to accommodate the mobile payment solutions, smaller entrepreneurs are not left out.

Google Wallet is one of notable world focus, e-payment solution, applicable on mobile devices and Laptop/PCs, customized to meet the online payment needs of small and medium scale businesses. Mobile payment system works the same way e-commerce payment operate. Smart phone or mobile device is use to browse the internet, using the set to in-put relevant cards data and personal information at the storefront payment page.

Yet, there is other simple and moderate mobile payment option, targeted at both the banked and under-banked society, for greater business penetration and profit taken. This payment option allow subscribed customers to pay for services through direct deductions from costumer’s mobile phone credit. This payment option is especially good in recurrent payment for services rendered on mobile devices.

For instance, I use Netqin anti-virus software service for protection against virus attack on my smart phone, including anti-theft and secure online payment services. Payment for this service is settle via my mobile line account on monthly basis. All that is required is, enough credit on the mobile line to pay as when due.

As due date approach, the system generated an automated reminder message, for the subscribers regularization of their subscription, for the service continuation. The message include an Authorization Button, meant to initiate deductions approval signals when clicked, informing the telecom operators, whose network the subscribers uses, to deduct an appropriate amount from the mobile line credit, payable to the service provider.

In a quest to satisfy consumers tastes in the mobile  market, mobile phone industries continue to improve on the device technology, to accommodate the emerging trend in the market. Various brands of simplify and easy to use, smart phones and mobile devices is by the day, launched in the market to consumers delight. This development arises as a necessity because, most mobile payment technology are centered around smart mobile phones and hand-held gadgets. The components assembled in manufacturing these devices, are compressed into a miniature, fashioned after a minicomputer, for convenient internet browsing.

Hence today, we have in the market, Hi-tech products of; Apples (iPad and iPod), Nokia series, Samsung smart phones and Android products, design to operate on iOS, Symbian, and Android system technologies, competing a fierce battle for the dominance of mobile device market world-wide.

One pronounced factor, influencing the growth in mobile payment, is the ever-increasing ratio of internet browsers on mobile devices, right from the developing countries, on to, the developed world populace, compared to the use of laptop or PC for browsing presently. Thus, attention for gadgets shopping is rapidly tilting, in the direction of smart mobile devices, as regards online browsing and e-payments.

Today, digital purchases and payments, are possible via smart hand-held mobile devices. Downloadable digital products like; e-books, entertainment, media and numerous software applications, are easily purchase online and paid for through mobile devices. Also, tangle goods can be ordered and paid for on the move, right on a mobile gadget effortlessly, such that, smart people around the world, are beginning to abandon their laptops purely for use only for cumbersome office work tasks.


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