Page 193 - Introduction to Electronic Commerce and Social Commerce

176 6 Mobile Commerce and the Internet of Things

Figure 6.4 An m-commerce
system at work

mobile banking and other mobile financial services. Mobile In February 2014, mBank (mbank.pl/en) launched a
payments are described in Chapter 11. For an overview of mobile banking platform in Poland. The app allows access to
mobile financial services, see ericsson.com/m-commerce/ the banking services, such as checking an account balance or
node/11. a credit card limit (see telecompaper.com/news/mbank-
launches- new-mobile-banking-app-in-Poland). American
First Credit Union offers many mobile services, including
Mobile Banking location-based offers.
Banks and financial services’ customers are utilizing their
Mobile banking (m-banking) describes the conducting of smartphones and cell phones to obtain current financial
banking activities via a mobile device (mostly via smart- information and perform real-time transactions. For compre-
phones, tablets, texting, or mobile website). The influx of hensive coverage, see Paulsen (2013) and Knowledge@
smartphones and tablets, especially iPhones and iPads, has Wharton and Ernst and Young (2013).
led to an increased utilization of mobile banking. For details, Finally, mobile payments, including payments withdrawn
a conceptual model, and challenges for mobile banking solu- from bank accounts via mobile devices, and depositing
tions, see Krishnan (2014) and Nicoletti (2014). A popular checks via smartphone photos have become very popular
service is a mobile deposit of checks. You sign the front and (see Chapter 11).
back of the check, snap pictures of both sides, including the
endorsement on the back, and submit it.
Throughout the world, more and more banks are offering Other Mobile Finance Applications
mobile-based financial and accounting information and trans-
action capabilities. There are several other mobile finance applications (search
Google for “future of mobile finance”). Two applications
Examples follow.
Most banks deploy mobile services through a variety of
channels, although the Internet and SMS are the most widely Mobile Stock Trading
used. A blog written by Brandon McGee (bmcgee.com) pro-
vides links to a number of banking websites throughout the Several brokerage companies offer extensive mobile services
world that provide comprehensive wireless financial ser- and stock trading mobile tools.
vices. The Chase Mobile app and other mobile banking ser-
vices offered by J.P. Morgan Chase Bank at chase.com Real Estate Mobile Transactions
enable customers to access their accounts via smartphones
and send text messages to request and receive account The real estate market can be an ideal place for mobile com-
information. merce since real estate brokers and buyers and sellers are con-