| Summary Mobile commerce is perhaps the future of online payment solutions. Although currently dogged by development problems, the onset of 3G mobile technology will allow shoppers to browse, pay for and authenticate a purchase over their phone. |
Mobile commerce was seen to be the future of payment sytems when 3G mobile technology licenses were granted a couple of years ago. Since then mobile phone companies have slowed down the pace of their technological development as they have struggled with the debt of paying for the licenses.
This promising market has been rather slow to develop and there are still limited options. Despite the success of Paybox in mainland Europe, notably France and Germany, the company backed by the Deutsche bank provisionally withdrew from the UK market on 24th January 2003.
Currentmobile methods involve an initial online shop experience followed by the option to pay using the mobile payment method. This involves a one-time registration process where bank or card details are stored together with delivery details. Once an account is set up purchase can be very speedy via an authentication by text message or phone call.
The future of mobile commerce is interesting. Mobile shopping will be taken to a new dimension, as mobile phone users will be able to browse, pay for and authenticate a purchase over their phone. This is a fast moving area – so watch this space!