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Mobile Commerce Market in Korea 2009-2013
Infiniti Research Limited, March 2010, Pages: 20
Mobile Commerce or M-commerce is defined as the buying and selling of goods and services through mobile devices. It is the ability to conduct wireless commerce transactions using the applications available in mobile devices.
The devices used for M-commerce mainly include mobile phones and Personal Digital Assistants (PDA). Some of the major products and services available through M-commerce are mobile banking, mobile trade services, mobile marketing and advertising, mobile ticketing, mobile vouchers, coupons and loyalty cards, content purchase and delivery, location based services, information based services, and mobile purchases.
Mobile Commerce has penetrated almost all the sectors in Korea including transportation, retail, hospitality, finance, government, etc. Thus, the telecom operators, financial institutions, product & service vendors, and software & content providers are collaborating among themselves to leverage the growing M-commerce opportunity. This enables them to ensure smooth functioning of the technology. Moreover, with the service providers, mobile operators, and phone manufacturers introducing new mobile commerce and payments applications, a further boost to the technology usage and greater adoption of M-commerce is likely in the region.
The M-commerce applications that provide merchant service for mobile and accept credit card payments from the mobile phone are available in the market. These applications are utilized by people who perform their businesses away from the offices. These applications allow them to accept payment with the help of their mobile phones the moment the work is completed. In addition to this, these applications allow the user to e-mail or text message the electronic receipts to the clients directly from phone. Further, these applications provide authorizations in very less time, thus, help in saving time. They, also, help in increasing book keeping accuracy by reducing the amount of manual work done for the same.
The report forecasts the size of the Mobile Commerce market in Korea over the period 2009-2013. Further, it discusses the key market trends, drivers and challenges of Mobile Commerce market in Korea, and profiles some of the key vendors of this market.
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