Final answer:
Despite a belief to the contrary, the availability of mobile payment options is not a significant barrier to the adoption of mobile commerce. Numerous fintech developments and corporate initiatives have expanded mobile payment options, supporting a growing worldwide mobile user base.
Step-by-step explanation:
The statement that one of the barriers to greater adoption of mobile commerce is the limited number of convenient mobile payment options can be considered false. Mobile commerce has been on the rise, particularly in light of the COVID-19 pandemic, which prompted a shift towards digital payment methods.
With the advent of various fintech solutions and a surge in mobile phone users, there is a broad spectrum of mobile payment options available, impacting money and how it is used. Companies like Germany’s Vodafone and Britain’s Masbabi have funded programs to capitalize on the large market of mobile users, given that the number of mobile phone users is more than double the number of people with bank accounts.
This demonstrates a significant opportunity for connecting banking services with users in need. Furthermore, the end of telephone monopolies led to a wave of innovation including a variety of payment plans and phone options, thereby showing the evolution and increased reliability of mobile commerce systems.