J2ME application has reached such a degree of importance that they can revolutionize the mobile application industry.Recently, M -commerce like accessing ICICI banking on GPRS enabled phone via J2ME has been treated as begining of transactions on mobile. Next generation M-commerce will enable users to use their mobile as m wallet just like master and visa cards. mobile credit cards(MCC) will have credit associated with mobile number and owner name. User can do shopping, pay bills and fill petrol etc. via their m wallet and confirmation will be done via SMS ,so there is no need to give your prestigious and fraud prone credit card to merchant for payments. Instead by sending a sms to vendor code for payments or by near field technology the money will be deducted from m wallet credit card and other things can go similar to normal credit card that is user can pay later on m wallet account by mentioning his name and mobile number as account number similar to payments for credit cards . At present credit cards are associated with banks(Any credit card will belong to some bank). M Wallet will also be associated with banks and will be another channel for banking and transactions .
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