Mobile Commerce a Relic From The 90's Making a Comeback

Submitted by Leader Staff on July 15, 2006 - 9:16am.

Business & Technology

In the 1990's we heard that the mobile phone was going to take over the way we did business. Well, it looks as though as though they were wrong on the timetable, they were correct with the projection. The 1990's were the foundation of what is going on now except we did not possess the technology to actual process these types of transactions.

This problem has changed with the advent of technologies such as Near Field Communication (NFC) and Short Message Service (SMS). NFC is projected to become a 5 billion dollar market place by 2009 with all the big credit card companies taking part along with Motorola, Nokia, and Samsung. SMS marketing is projected to be even bigger. By 2009 forecasters say that it will be a 28 Billion-Dollar Market with companies like Paypal, Ebay, and a newcomer called BillMonk. Although it may be late on arrival it looks like paying with your cell phone is the thing of the future.