Mobile commerce is one of the hottest sectors right now and it is gaining importance for a wide range of industries, including telecommunications, IT, finance, retail and the media, as well as for end-users. It works best in those areas where it can emphasise the core virtue of mobile networks – convenience. The enormous success of smart phones is linked to the Apps which are available and increasingly commercial models will be linked to these apps - which will result in further spectacular growth in m-commerce. Please note, a separate report is available on the global e-commerce sector.
In February 2013 Visa and Samsung announced that Visas NFC payment system will be built into all future Samsung smartphones. Samsung is the worlds biggest smartphone maker and together, the two have a solid chance of making mobile payments a global reality. BuddeComm sees the development of m-wallets as a major breakthrough for the m-payment sector and beyond, and could indeed be a game changer. In 2013 the term SoLoMo (Social, Location, Mobile) continues to be used when referring to developments in the m-commerce sector.
Facebook, Foursquare; Google, Visa, Samsung