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3 Ways Mobile Technology has Revolutionized the Economy

There’s a very good reason why mobile technology is one of the fastest adopted technology – if not the fastest – of all time. It gives the power to consume and provides them easy solutions from business to personal reason, thus making their lives much better in the process.

Businesses that adapted mobile technology in their processes have seen tremendous growth in a short time. The sky is the limit with mobile technology especially if policymakers continue to foster an environment that enables this technology to strive and prosper.

If you haven’t tapped the power of mobile technology, then you’re missing out on a lot. Instead of hearing reasons why you should take advantage of this technology sooner than later, read the different and major ways on how mobile has influenced the economic landscape.

Create online marketplaces

Years ago, online marketplaces were created with the desktop computer in mind. People go online using their computers and place their orders from there. The concept remains true to this day, but businesses nowadays consider mobile usability in mind. Since more and people are connecting online using their mobile devices, it only makes sense for business owners to cater to that specific audience.

Mobile users have access to the internet anytime and anywhere, which means that it’s easier and more convenient for them to purchase products online from their phones. Flipkart took this to heart and developed its online marketplace dedicated to mobile users. While it has a desktop version, the brand generates most of its sales from mobile.

The effects of mobile have trickled down to industries you didn’t expect to adapt very well. 888Poker, for instance, taps into the online poker market by providing players a variety of ways to play poker with players from all over the world and win actual money in the process. Online poker players are able to create virtual poker rooms where they can compete for a share of the pot with friends or join rooms with players from all over the world. This digital marketplace has created its own economy based on winning and losing poker games. This progress goes to show that mobile adaptability is possible regardless of your industry and market as long as you are willing to accept it.

Connect us globally

Mobile technology has paved the way for better communication among people from across the globe. Back then, you need to make a collect call to talk to business partners or even loved ones on the other side of the world. You don’t even get to see their faces when talking to them and have to pay premium prices for this service.

Nowadays, people can make calls using different apps on their mobile devices for free as long as there’s an internet connection. Whatsapp, Viber, and Facebook Messenger, among a host of other apps, make it all too easy to drop messages and make calls in a few taps on your touchscreen.

Businesses can employ the same tools to communicate with their remote workforce. However, there are apps like Slack and Stride that allow a host of other features to make jobs easier. Transferring files, creating channels for different projects, and messaging the right people for the job in an instant from your mobile, among other features, make communication and productivity a breeze.

Makes commerce instant

Similar to online marketplaces, mobile commerce (also known as m-commerce) is the purchasing and transacting of products and services from third-party entities using your wireless mobile device. It utilizes Wireless Application Protocol (WAP) technology in which phones are equipped with micro-browsers optimized for the web.

Customers in the finance industry benefit significantly from m-commerce. Usually, people line up for hours to pay their bills. Nowadays, they can send money from their bank accounts to the service vendor from their phones in a matter of seconds.There’s no waiting period – after a few minutes, you can get back to whatever you were doing and get more things done.

Also, m-commerce is more than just business transactions. It enables you to receive vital information straight from your phone. You can follow your favorite sports team, celebrities, and bands for the latest updates. You can also set up a news feed to show on your phones and get notifications if news breaks out. Therefore, instead of going out of your way to check information on different websites, the information goes straight to your phone, so you get the information you need in an instant!

The mobile technology doesn’t stop there

Mobile use is becoming more commonplace in society and it’s only a matter of time before all businesses adopt it. What’s even more impressive is that there’s no end in sight regarding the improvements to be made! More breakthroughs will continue to take place in mobile technology so you can expect more changes in the economy.

For people, it’s a matter of making your lives much more manageable and convenient, and mobile offers these privileges, unlike any technology before it.