MFS as a mCommerce category

In a recent e-mail from Mushinzimana , I was asked if mobile financial services (MFS) is a mCommerce application at the same level as mAdvertising, mEntertainment etc.

I promised that I would post some comment on this.

First of all, it is clear that MFS is a "m" play. The question then is if one could see payments and banking (in this context) as commerce and if MFS should be seen as a subset of mCommerce. In looking at the other categories of mCommerce, mPayments sits at the root of any commerce. It is impossible to think of "commerce" without payment.

In conclusion, I would have to say that MFS is not a mCommerce application, but rather the foundation, the basis of mCommerce.