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What is the difference between E commerce and M commerce?
Let us understand the concept of electronic commerce.
E-Commerce stands for Electronic Commerce. It defines buying and selling of goods, products, or services over the internet. E-commerce is also defined as electronic commerce or internet commerce.
These services are supported online over the internet network. Transactions of money, funds, and data are also treated as E-commerce. These business transactions can be completed in four techniques such as Business to Business (B2B), Business to Customer (B2C), Customer to Customer (C2C), and Customer to Business (C2B).
Advantages of E-Commerce
The advantages of E-Commerce are as follows −
E-commerce supports sellers with a worldwide reach. It can eliminate the barrier of place (geography).
It supports fast delivery of goods with very small effort on part of the customer. Customer complaints are also sent fastly. It also stores time, energy, and effort for both the consumers and the organization.
Electronic commerce will extensively lower the transaction value. It removes some permanent costs of maintaining brick and mortar shops. This enables the companies to enjoy a much larger margin of profit.
Electronic commerce also enables the customer and the business to be in communication directly, without any intermediaries. This enables fast communication and transactions. It also provides valuable personal communication.
M-Commerce stands for Mobile Commerce. It contains online transactions through wireless handheld devices including mobile phones, laptops, palmtops, tablets, or some other personal digital assistant.
It does not need the user to sit at the device that is plugged in and implement the commercial transactions.
Through M-Commerce, a person can implement multiple functions including pay bills, purchase and sell goods and services, access emails, book movie tickets, create railway reservations, order books, read and watch the report, etc.
Applications of M-Commerce
There are various applications of M-Commerce which are as follows −
It is using a mobile website or application to implement all your banking functions. It is one advanced process of online banking and has become typical these days. For instance, in Nigeria, the bulk of banking transactions appear on mobile phones.
M-commerce also supports businesses target customers according to their areas, service provider, the type of device they use, and several other norms.
It is creating bookings and receiving your tickets on the mobile. The digital ticket or boarding pass is transmitted directly to your mobile after you create the payment from it.
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