Mobile commerce is gaining increasing acceptance. The need for mobility is a pri¬mary driving force behind mobile banking, mobile entertainment and mobile mar¬keting, and is supported by an ever increasing convergence of computers and mo¬bile telecommunication devices. This article examines the conceptual background and existing regulatory framework of this relatively new business field, in order to provide a systematic and comprehensive understanding of m-commerce, including its utility for both consumers and service-providers, so as to make them aware of the new business opportunities arising out of this convergence. Mobile commerce is widely considered to be a drawing force for next generation e-commerce.