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Mobile commerce is gaining increasing acceptance. The need for mobility is a primary driving force behind mobile banking, mobile entertainment and mobile marketing, and is supported by an ever increasing convergence of computers and mobile 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