The business world has been set a buzz with recent developments in telecom technology. Over the past few years innovations in products and services have empowered consumers and business alike with greater convenience in the way these services are bought and sold. With the internet providing the backbone, distance has become less of a factor in business than before. Here are the top advancements of Telecom Industry we have compiled for you.
Developed in Kenya, mobile money is a convenient product that allows you to actually transact business with real money stored in your phone. You deposit money with your network provider or a carrier that offers you personal or business mobile money account.
When you transact a business that accepts this form of payments, you simply send the amount due to the recipient’s (individual or business) telephone number. If you have the amount of cash required, it is debited from your account and credited on the recipient’s end. Both ends of transaction receive a text message confirming the exchange.
Other services have cropped up in utilizing this service, and people can now pay bills and even buy stocks. Currently mobile money is seeking to expand worldwide with other network providers the world over carrying out feasibility studies on this.
The boys at Google are at it again. Google wallet allows you to store digital versions of all things you would expect in your wallet. You can store your credit and debit cards, loyalty and bonus points as well as other offers in your phone. After a transaction, you simply tap the back of your phone with screen facing the point of sale system. The wallet automatically syncs this transaction to your phone. The safety and convenience is astonishing as all the information is digital. Loss of your phone doesn’t have to mean losing your card and cash.
Telecom Industry has also evolved the internet into providing a further business convenience of online transactions. This service has been in actual existence for quite a while now. Providers like PayPal and its link allow credit card transactions across the world 24/7. This has expanded the global reach of business.
Social media platforms such as Facebook, Tweeter and other websites are no longer just tools for friends to hook up, far from it, many businesses have taken the platforms and utilized them as marketing tools. Flexibility and reach offered by these sites are unparalleled. Telecom Industry has made marketing and product reach cheaper and more convenient.
As a business solution many companies are turning to online cloud computing as a provider of data storage and processing capabilities. This has given the business the flexibility to have an international workforce in many different countries all working and synchronized from the company’s cloud account.