Mobile Phones Will Supplant Credit Cards Soon

Without conducting any survey one can easily predict that the ubiquitous mobile phone would be the most prioritized among things one cannot live without. In the late 1990s when mobile phones were launched, no one would have ever remotely even imagined, these amazing devices would one day become the greatest invention of all time in the field of communication, information, and the endless list of other applications. Mobiles are adding on new characteristics, to its initial communication image, on a regular basis. Lately, it has enabled another feature by filling in the shoes of credit cards. Now one can swipe one’s mobile phone to pay bills in restaurants, shopping malls, railway stations, etc., to transform itself as an e-wallet.

Atom Technologies, the company from India that is behind the invention of software which can duplicate the function of a credit card in mobiles claims that the software is capable of burning the user’s credit card data to a mobile phone. The data would be stored in a 2D barcode format and cannot be read even by the user, thereby secures the handset from misuse in an event it is lost or stolen. Besides, authentication in the form of PIN number is required for payment order. The mobile credit card payment or ‘optical payment’ as termed by its inventors, can be used at any business center which accepts credit cards, and has the requisite software with a webcam that could read the 2D barcode.

It is also loaded with another payment mode called remote location or over the air authentication, by which the user can use the cards sitting at home or office. In this case, the merchant establishment and the bank are connected over the air and the user will have to authenticate and approve the purchase. Currently, the system will work only on Java-enabled phones. Though the company would be levying a percentage of the transactions as its fee, the software will be provided without any additional cost to the commercial establishments including Banks, shopping malls, hospitals, etc.

In addition to the above technology, there are already two players who mimic the functions of the credit/debit card over an SMS, they are mChek and Paymate. mChek has already been conferred with the prestigious Global Mobile Award for the most innovative application during the recent GSM World Congress held in Barcelona in February, 2008.

Both provide services akin to that of a credit/debit card by storing details on a secure server, and once one is registered, one is issued a PIN number. This e-wallet has security features what one gets on an ATM, if one were to enter the wrong PIN three times, one’s account gets blocked, besides that, transaction limit is also enabled on the phone. Major benefit of such an e-wallet is they thoroughly eliminate the number of plastic cards one carries around.

These latest innovations in mobile phone technology are also offering services including money transfer, mobile remittance, bank check clearance, ticket reservation, etc. All these mobile phone technologies indicate that one’s phone is not only just an entertainment and navigation tool anymore but also an e-wallet.

Toboc

B2Bs Emerge As the Best among the Business Models of the Internet

Business to Business portals have enhanced business opportunities for international traders with their unparalleled web services. The portals took international marketing to a different level in short span of time by reducing cost and improving quality. Initially, one of the serious concerns for the international traders was whether these portals would give necessary impetus to their business. But this was addressed by top B2Bs by providing business opportunities soon after their inception.

Cost effectiveness of the concept was immediately felt by the traders who inducted B2B services to their businesses. Widely used products and services found buyers and sellers instantaneously while unique ones had to wait patiently to get noticed. As more and more traders began to use B2Bs, even these concerns of, ‘had to wait’ was also aptly answered.

A decade ago, B2Bs had to struggle in order to make the traders understand the concept and encourage them to radically depart from the conventional business model they were involved until then. It was even difficult for businesses to shift from traditional business practices to cyberspace. Everything seems to be impractical in the eyes of the trader, when one initially started using B2B. That is because the trader neither sees the client nor is personally able to be involved in negotiations, unless one tries to do so by spending time and money.

Managing one’s business thoroughly in electronic terms is understandably tedious for those who are accustomed to a more mechanical business models. But in the present business environment, if one keeps away from B2Bs, to match the prices offered by one’s B2B-friendly competitors in the same market will be an uphill task.

However, until a trader make use of the premium membership of any B2B portal, whatever business one gets is a bonus to one’s enterprise. If one has chanced upon such a bonus and the decision to go for premium membership is solely based on that, it would be a disappointment. The best way to decide is by checking the portals standing and visibility in e-commerce space to derive sustained business. To ensure business through these portals, one has to learn the functionalities of each portal and should use it as an interactive business tool rather than a one-sided informative tool. Top B2B portals have proven track record of giving valuable inputs to their premium members to increase business.

Still there are many traders who are averse to computer-based business applications; it is a natural tendency towards ‘change’. It is a fear about adopting the unknown. Such fearful traders can look at the modern day kids; they learn computers without even explaining them the nuances of it. Therefore, learning computers and related applications is a child’s play, once one shows interest in them.

The apprehensions on this aspect are nothing compare to one’s own fears which one had before starting one’s business. As a matter of fact, the business model provided by B2B portals have proved that, any single trader with an enterprise along with B2B setting, can easily do international business hitherto was only possible by huge business houses. Thousands of small and medium businesses around the world have benefited through B2Bs, and not to mention, several huge international players. Those who have not yet used the services should do so quickly to expedite one’s business opportunities.

Toboc

How Universal Networking Sites Work For Businesses

Fishing for Customers in places where they hang out for fun and entertainment has become a theme for most of the businesses across the globe regardless of their size and geography. Many companies were able identify that this place is none other than Social Networking Sites (SNS). Irrespective of gender, nationality, age, etc. people reach out to their friends and like-minded people through SNS.

Globalization in its early years, in-fact, brought different cultures to converge at one point, but at the same time, disintegrated small communities due to greater opportunities away from their homes as well as their own communities. Unfortunately, though the opportunities gave them more material comforts, they were literally isolated from their loved ones in the name of better opportunities. The emergence of SNS gave these people a platform to share their feelings instantly. In no time, these sites became a major hang out for the young, and today even it is appealing to the older generation.

As it is common to any business to target those areas where people meet for fun and entertainment, the SNS too became a virtual battle ground for businesses to enhance their customer base. Especially, small and medium businesses extensively used this platform not only to increase the traffic to their sites but also as a cost-effective tool to market their products or services. The speed in which these SNS thrived gave birth to the fast emerging concept Business Networking Sites (BNS). And these sites have caught the imagination of most companies to utilize the services as part of their social media marketing.

Besides being a database of corporate contacts, BNS have served as essential tools for making a company known to the world with their workforce’s contacts. Nevertheless, most businesses have not so far directly included these media as part of their marketing strategy. Most companies have even denied access to SNS by their staff; the reason cited for this is, job allotted to them was largely neglected owing to increased straying into these areas. But some companies have tentatively allocated some stipulated time to access these sites for propagating their companies’ products or services.

There are plenty of websites mushrooming across World Wide Web besides BNS and SNS including Book-Marking Sites. Each one is vying with one another to integrate the popular features of each concept. And coming years will decide the future course of many popular such sites as to what entity they exist in the e-arena. In future, even terms to segregate these sites may become irrelevant. Industry observers as well as service providers believe, once winners among these sites are well defined, businesses would start extensively using this medium as the primary tool of their marketing strategy.

Instead of spending a large sum of money for advertising through other media, companies are bound to seek the services of Universal Networking Sites (UNS) with or without extra cost. Experts believe that these sites can deliver goods in minimum time with higher productivity. The UNS with comprehensive features of SNS, BNS, etc., will be the next big thing which would attract people from all walks of lives including students, home-makers, businessmen, etc.

Since online public is growing faster as expected, the sites with combined solutions such as socializing, book-marking, job-searching, etc. will soon become an advertising center for all businesses across the world. The UNS is likely to become a cost-effective tool for marketing one’s company’s products or/and services.

UNS also promise good revenue for the service providers through advertisements as compared to the independent services provided by them. Hence, online world could expect popular as well as new service providers to compete one another in adding mind-boggling features to their forthcoming UNS version of their respective service sites.

Toboc

India and ASEAN Iron out Differences – the FTA to be concluded in October

According to the Indian government sources, the India-ASEAN FTA will be a reality in the forthcoming ASEAN Summit in October as all outstanding issues had been sorted out by both parties. Although India and ASEAN had concluded the talks for the landmark FTA in late last year after six years of discussions, it got delayed owing to several events including the standoff between Thai government and protestors during the scheduled summit last December.

A free trade deal with ASEAN member states has strategic importance to India since the country exports 12 percent to these states and imports 10 percent. The FTA is expected to increase the trade from the current $40bn to $50bn by next year.

Indian officials said that there were plans to even sign the India-South Korea Comprehensive Economic Partnership Agreement (CEPA) along with the ASEAN FTA. The South Korean representatives are expected to attend the upcoming summit to engage in talks with the ASEAN members as well as concluding the formalities on CEPA with India.

Both trade deals require Indian cabinet approval, and would be the first such approval by the United Progressive Alliance after returning to power consecutively for the second time. The FTA had earlier missed the April date due to parliamentary elections in India.

The talks between India and ASEAN were stalled several times as the association insisted on cuts in tariff twice a year. But in the recent talks, India was able to convince the ASEAN members on duty cuts once in twelve months, and the same will be reviewed every January. As per the deal, duty to be cut for the highly sensitive products including tea, coffee, pepper, crude and refined palm oil is between 30 and 45 percent by Dec 31, 2019.

Toboc Trade News

You Own Your Shadow?

It was a hot summer noon in this busy city, and three of us were really exhausted after the extended stay previous night at our friend’s place quite far away from the city. The moment we entered the city, one of my friends said he wanted to buy something very important from the busy market area. The friend who was driving and I were apparently wild at the idea because to get a parking space in that vicinity at any time of the day was unthinkable, more so we wished to get back home soon to get some sleep that we missed last night.

Nevertheless, we succumbed to his coercion and dropped him near the shop with clear instructions for not to exceed half an hour. Then it was a long journey to find a parking slot. We almost circled 3km through the heavy traffic before we found an unconventional parking area, a by-lane seemingly empty. I told my friend to move the vehicle towards the shade and the shade happened to be the frontage of a boutique hotel. Surprisingly, no vehicle was parked in the frontage and had enough space to accommodate at least five cars.

We parked the vehicle towards a side of the road without trespassing the hotel’s premises that was patently marked with white line on the front yard extending to the road. While parking, we also made sure that in no way we would obstruct their way either to the reception or to the entrance of the basement parking. After making ourselves settled at that place, of course with the AC on, I phoned my friend. Then informed him about our global position and advised to catch an auto-rickshaw to reach the spot to avoid pushing ourselves to the traffic snarl once again. In this part of the world, many people park their vehicles in the available slots and proceed with their shopping or business activities by travelling in auto-rickshaws within a distance of 3 or 4km.

I hung up the phone and was about to say something to my friend in the driver’s seat only to hear a knock on the window pane at the side of my door. I slid opened the window and saw a man appeared to be the security officer of the hotel. Without any preface he said “Don’t park here”. I asked him why? But without giving any reason he said we were not allowed to park there. My friend kept quiet and let me do all the talking. I assured the officer that we would be inside the car so that if any vehicle coming to the hotel found us causing inconvenience to them then we would move the vehicle from there. Still he disdainfully insisted that we moved away from there. I retorted with a bold ‘No’ and slid down the pane. Immediately the officer hurried to the hotel.

Few seconds later another man in formals came to us and repeated the same words what was told by the security officer earlier, indeed followed by four or five extra security henchmen. I very clearly and politely explained him we had parked here for the shade on the side of the public road which has no ‘No Parking’ board and promised him we would leave soon. Then he introduced himself as the manager and informed us that he had strict orders from his higher ups not to entertain any vehicles other than the visitors or guests to the hotel. Without losing my cool I told him that I was not convinced. In a jiffy came the response, “Sir, if we could own the plot and the building, we are the ‘legitimate’ owners of its shadow too, and you have trespassed on our shadow. Therefore, it is our prerogative to allow or disallow anyone to use our shadow for whatever the purpose”.

Both of us were dumbstruck and meantime my phone started ringing. It was our friend who was over the phone pleading us to pick him up from the spot where we dropped him because the rickshaws were not willing to come to this area, always for reasons best known to these rickshaw-wallahs. Neither my friend nor I did utter a word to the hotel manager and in total daze we left the place.