Mobile commerce technology is gaining ground globally. Both developed and least developed economies are adopting the technology for various reasons. In the developed world electronic commerce is cheaper. For example Vodafone’s subsidiary inKenyahas been able to pay its more than 2000 share holders their dividends using mobile technology in regardless of this mobile commerce is cheaper in the developing world.
Despite their different reasons for adopting the technology it is evidently clear that its effectiveness and efficiency is critical to all concerned. The technology has been widely used to offer time-critical services, services to people on the move, services to people who find electronic commerce rather expensive or services to people who hardly have access to the internet regularly(especially in the developing and least-developed economies).
The broad categories involved in mobile commerce are banking and financial services, location based services, games, entertainment, and wireless advertisement amongst other services. The rapid commercialization of 3G services especially using the youth as the market drivers is believed to have a positive impact on commerce. As a result of this major mobile phone manufacturers are teaming up with network carriers in order to manufacture customized handsets capable of handling more commerce specific functions.
Among other advantages, mobile commerce is convenient since it is not location specific as compared to all other forms of commerce. In addition mobile commerce offers the following advantages to both operators and users