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M-COMMERCE – 2 TIMES THE VALUE OF ECIGARETTE MERCHANT ACCOUNT E-COMMERCE

Do you know what M – Commerce is?

If the answer is no, you need to buckle up and learn quickly. In the year 2006, M-Commerce accounted for about 7.4 billion Euros in Europe, which is second to Asia. This is two times the amount spent for web services.

M – Commerce is simple, mobile phone based sales, generally relating to ringtones, wallpaper, games, etc. However, there are lots more to M – Commerce than just this.

Why is there so much excitement about M – Commerce? The excitement is due the fact that M – Commerce has more potential than E – Commerce because more individuals have mobile phones than computers. Also, people are more comfortable using phones than computers.

Growth in the mobile industry already exceeds all other industries related to communication. More than half of the Americans have mobile phones. In UK, the ownership ratio is as high as 1.5 mobile phones per head. In 2008, the mobile industry or M – Commerce was worth about $121 billion. Distribution of games, images, ringtones and several other promotions were responsible for 1/5th of this revenue.

With newer and more sophisticated technologies coming up these devices are being used as PDF readers, diary organisers, picture albums, voice notepads, game consoles, MP3 Players and cameras.

The mobile phones can also connect to the home wireless networks and can be used to check mails, browse the net and much other stuff on the internet.

In M – Commerce the real money exists in SMS, MMS and micro payments.

Recent reports have revealed a doubling of revenues, world wide, due to streaming sports bulletin and TV subscriptions.

Micro Payments has been around for some time now. The best example is voting by viewers while watching shows on TV. Each time a viewer votes using his or her mobile phone, they are charged a small amount. Millions of such small amounts will add to billions of dollars per TV show. This is micro payments.

This method is very fascinating because people don’t feel that they have spent any money since they don’t have to take out their credit card and swipe. It’s much simpler: usually sending a text message to a number and then a small payment is added to the phone bill.

All the payments will appear in the following month’s phone bill summary. People are very comfortable in making payments in this way. The same method is used for voting, participating in a game show, downloading a game or to download the latest ringtone.

If you are planning to enter the M – Commerce industry, you have to plan to make use of micro payments in your web site. For example, if you have an online newsletter, you could offer to deliver it to your customer’s mobile phones if they are willing to pay a small fee. You could give it for free to the existing customers for a trial period.

You can also offer a “breaking news” service where your customers will be able to receive real time news. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.