Mobile-commerce comes of age in India

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Just two seconds can make a difference of hundreds of crores of rupees in some businesses. That’s the premise on which HDFC Securities is re-inventing its stock trading app for mobile phones. The new app will feed real time stock quotes app will feed real time stock quotes to users’ phones, shaving the 1.5 to 2 second lag that exists in the current app.

Citibank is encouraging customers to use mobiles. It’s looking at charging extra for customers visiting the branch. “Instead of all industry players adopting m-commerce it’s a few early movers. They will show the way,” says Sanchit Vir Gogia, chief analyst & CEO, Greyhound Research. “Other banks are still struggling with a mobile strategy.”

Gogia of Greyhound Research sums it up well: “When ATMs were first introduced, people were reluctant to use them and had all kinds of fears about security. Today, ATMs are a given. Transition to m-commerce will be similar.”

To read the Full Article, click here: The Economic Times

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