Mobile Ecommerce Payment: Is it an Omnipresent Threat

The phrase "mobile payment system" can apply to a number of different technologies and implementations for initiating and accepting transactions using a mobile device. Traditional Ecommerce solutions have yet to really go mainstream still poised to help redefine the way business is done all over the world.

A Pure System Cutting Down On Excess Wastage

It’s so obvious that actually paying for items using your phone instead of with cash or a credit card is the future. Aside from being able to accept/ do transactions in more locations, the modern mobile payment system is environmental- impacting the ecology cutting down on excess waste.

It can be good for businesses' bottom lines too. Given the high number of transactions that each Apple retail store processes each day, it is likely significant how much money they have saved on long emailed customers their receipt by default, only printing it on request.

The Complex World of Mobile Ecommerce

While the standards of the mobile commerce industry are rapidly changing, there is the omnipresent threat of exploitation presented by the malicious groups. Let’s check out a few suspicious threats as on date.

At present Cloud computing and Near Field Communication (NFC) technology are the structures in use for the mobile payments industry which finds itself in the middle of a format war making us wonder whether mobile payments are actually worthwhile.

Cloud vs. NFC Technology: Mobile ecommerce services such as mobile wallet are NFC dependent and can only be made use of on those devices that are embedded with the relevant chip. On the other hand, the cloud-based systems have no such limitations with the increased prominence in the mobile payments industry.

Saving some thoughts on mobile payment systems and how they impact on commerce? Please do share them under comments.