What is 'm-commerce'? Describe its future prospects in India.

M-commerce i.e. Mobile-commerce is a term that is used to refer the growing practice of conducting financial and promotional activities with the use of a wireless handheld device like cell phones, personal digital assistants and other hand held devices. Mobile Commerce has gained increasing acceptance amongst various sections of the society and India has a huge opportunity for mobile commerce. India has witnessed an exponential growth last year especially in verticals like lifestyle and classifieds. This is the first time a majority of Indians are getting connected to the internet. They are discovering products at costs that are lower than they've never seen before, and they are getting products that were not available in their market before. The major areas that are witnessing boost in the usage of m-commerce technologies include m-entertainment, m-retailing, m-banking, m-marketing. Further, practically every sector - from banking to retail and government to healthcare is having prospects under m-commerce. Since, mobile financial services build a cornerstone of Mobile Commerce; they are also bound to grow further in terms of various sub-applications in the form of innovative mobile payment, mobile banking, mobile accounting, mobile brokerage and mobile financial information etc.