M-commerce, also mobile commerce, is hailed for fast-tracking next-generation mobile financial services as well as defining new ways to transact business. Despite the positives, experts in the legal field of M- and E-commerce observe that legal and regulatory challenges might be causing a jurisdictional headache to organizations and innovators.
While a number of m-commerce applications and services might satisfy internal regulation, questions linger over their stand on international law and financial laws and regulation once they cross frontiers to serve global markets.
A new opportunity however presents itself to create a dynamic m-commerce ecosystem.
According to Tunmbi Idowu, Ericsson Head of Compliance and Risk Control, Ericsson M-commerce sees this as an opportunity to be a partner for valuable change, through proactive and meaningful engagement with regulators, support partners and customers, create a lasting legacy and as a business make m-commerce profitable for our customers, partners and ourselves.
The growth of m-commerce has been fueled by the vigor by which consumers use mobiles and tablets. Retailers are taking advantage of the curve by developing applications that offer products and services on internet enabled mobile phones.
According to a recent survey by search engine giant Google on Egypt’s consumers, mobile optimized websites are highlighted as key to engaging the consumer to a point of making purchases.
A common trend in the world of mobile commerce is showrooming, a phenomenon in which consumers visit a store and then use their phones to buy items they see on online stores.