Research - Phase 1 - Background and Literature Review Paper

- Phase 1 - Background and Literature Review - Research Paper Example The m-payment services provide the scope of maintaining a mobile wallet for using mobile money and mobile transfers. The aspect of non-coin based transaction has a long historical background. After the use of plastic money in financial transactions through the use of debit cards, credit cards, etc., the technological applications have been used to develop the m-payment services. The launch of mobile phones has been rapidly accepted by the customers all over the world. The mobile phones and accessories have huge market shares in the developed as well as the developing economies (HUMPHREY, MOSHE and BENT, 2001, p.225). However, the developing countries have quickly adopted the m-payment services in comparison to developed countries like Australia in order to take opportunities of the worldwide business in the age of globalization. However, the m-payment services have now started to develop in the advanced economies like Australia with a difference from the models used in the developing countries. The reason for undertaking this research is to reveal the various factors that have led to the adoption of the m-payment services in Australia. The divergence of the m-payment model adopted in Australia explains the appropriateness of the various types of m-payment services in Australia that have appealed the customers to use the electronic payment services. The research work is important as the previous research studies on m-payment services have not addressed the areas of divergence in the m-payment model used in Australian markets. The research contributes to provide useful insights to the business entities for promoting the m-payment services to the customers in order to be in the same line with the changes in the Australian markets. The findings of the research also provide recommendation to the customers on the