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M-commerce (mobile commerce) is the buying and selling of goods and services through wireless handheld devices such as smartphones and tablets. As a form of e-commerce, m-commerce enables users to access online shopping platforms without needing to use a desktop computer. Examples of m-commerce include  in-app purchasing, mobile banking, virtual marketplace apps like the Amazon mobile app or a digital wallet such as Apple Pay, Android Pay and Samsung Pay.

Types of m-commerce

M-commerce can be categorized by function as either mobile shopping, mobile banking or mobile payments. Mobile shopping allows for a customer to purchase a product from a mobile device, using an application such as Amazon, or over a web app. A subcategory of mobile shopping is app commerce, which is a transaction that takes place over a native app. Mobile banking includes any handheld technology that enables customers to conduct fanatical transactions. This is typically done through a secure, dedicated app provided by the banking institution. Mobile payments enable users to buy products in-person using a mobile device. Digital wallets, such as Apple Pay, allow a customer to buy a product without needing to swipe a card or pay with physical cash

Advantages and disadvantages of mobile commerce

The advantages of m-commerce include:

Added customer retention by being more easily accessible.

More convenience for customers in comparing prices, reading reviews and making purchases without the need of a desktop computer.

Wider variety of products and services.

Automates a businesses’ point of customer contact and sales.

Disadvantages of m-commerce include:

A poorly executed mobile experience can deter customers from making purchases.

Mobile payment options are not available in every geographic location and may not support every type of digital wallet.

Businesses must know and comply with tax laws and regulations of all countries they ship to (some businesses will avoid this by only allowing purchases and shipping from their country of origin).

How mobile commerce works

With most m-commerce enabled platforms, the mobile device is connected to a wireless network that can be used to conduct online product purchases. For those in charge of developing an m-commerce application, important KPIs to monitor include the total mobile traffic, total amount of traffic on the application, average order value and the value of orders over time. Similarly, tracking the mobile add to cart rate will help developers see if users are becoming customers. M-commerce developers may also be interested in logging average page loading times, mobile cart conversion rates and SMS subscriptions.

In terms of mobile payment products specifically, they operate through a form of peer-to-peer (P2P) sharing. Once a mobile device is paired with a bank card’s information, the phone can be waved over a payment terminal to pay for a product. This contactless payment using a mobile device is possible due to the use of Near Field Communication (NFC)

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E commerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions. E commerce is often used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the internet.

Types of E commerce Models

There are four main types of ecommerce models that can describe almost every transaction that takes place between consumers and businesses.

1. Business to Consumer (B2C):
When a business sells a good or service to an individual consumer (e.g. You buy a pair of shoes from an online retailer).

2. Business to Business (B2B):
When a business sells a good or service to another business (e.g. A business sells software-as-a-service for other businesses to use)

3. Consumer to Consumer (C2C):
When a consumer sells a good or service to another consumer (e.g. You sell your old furniture on eBay to another consumer).

4. Consumer to Business (C2B):
When a consumer sells their own products or services to a business or organization (e.g. An influencer offers exposure to their online audience in exchange for a fee, or a photographer licenses their photo for a business to use).

Examples of Ecommerce
Ecommerce can take on a variety of forms involving different transactional relationships between businesses and consumers, as well as different objects being exchanged as part of these transactions.

1. Retail:
The sale of a product by a business directly to a customer without any intermediary.

2. Wholesale:
The sale of products in bulk, often to a retailer that then sells them directly to consumers.

3. Dropshipping:
The sale of a product, which is manufactured and shipped to the consumer by a third party.

4. Crowdfunding:
The collection of money from consumers in advance of a product being available in order to raise the startup capital necessary to bring it to market.

5. Subscription:
The automatic recurring purchase of a product or service on a regular basis until the subscriber chooses to cancel.

6. Physical products:
Any tangible good that requires inventory to be replenished and orders to be physically shipped to customers as sales are made.

7. Digital products:
Downloadable digital goods, templates, and courses, or media that must be purchased for consumption or licensed for use.

8. Services:
A skill or set of skills provided in exchange for compensation. The service provider’s time can be purchased for a fee.

Examples of Ecommerce
Ecommerce can take on a variety of forms involving different transactional relationships between businesses and consumers, as well as different objects being exchanged as part of these transactions.

1. Retail:
The sale of a product by a business directly to a customer without any intermediary.

2. Wholesale:
The sale of products in bulk, often to a retailer that then sells them directly to consumers.

3. Dropshipping:
The sale of a product, which is manufactured and shipped to the consumer by a third party.

4. Crowdfunding:
The collection of money from consumers in advance of a product being available in order to raise the startup capital necessary to bring it to market.

5. Subscription:
The automatic recurring purchase of a product or service on a regular basis until the subscriber chooses to cancel.

6. Physical products:
Any tangible good that requires inventory to be replenished and orders to be physically shipped to customers as sales are made.

7. Digital products:
Downloadable digital goods, templates, and courses, or media that must be purchased for consumption or licensed for use.

8. Services:
A skill or set of skills provided in exchange for compensation. The service provider’s time can be purchased for a fee.

ADVANTAGES AND DISADVANTAGES OF ECOMMERCE

The invention of faster internet connectivity and powerful online tools has resulted in a new commerce arena – Ecommerce. Ecommerce offered many advantages to companies and customers but it also caused many problems.

ADVANTAGES OF ECOMMERCE

Faster buying/selling procedure, as well as easy to find products.

Buying/selling 24/7.

More reach to customers, there is no theoretical geographic limitations.

Low operational costs and better quality of services.

No need of physical company set-ups.

Easy to start and manage a business.

Customers can easily select products from different providers without moving around physically.

DISADVANTAGES OF ECOMMERCE

Any one, good or bad, can easily start a business. And there are many bad sites which eat up customers’ money.

There is no guarantee of product quality.

Mechanical failures can cause unpredictable effects on the total processes.

As there is minimum chance of direct customer to company interactions, customer loyalty is always on a check.

There are many hackers who look for opportunities, and thus an ecommerce site, service, payment gateways, all are always prone to attack.