Security challenges, security risks, and security implementations within 3-G M-Commerce is the main issues in this paper. Here, the attention will be paid to see the impact of security of 3-G M-Commerce applications on B2B and B2C operations. Further, by describing the current state of security within 3-G M-Commerce, the paper will show the pitfalls that need to be corrected. It is further envisaged to propose an ideal 3-G M-Commerce system that will overcome these pitfalls and provide optimal security and better quality without degrading the new technology to the point of uselessness. The work is aimed at addressing the issues related to the security of B2B & B2C operations in 3-G enabled M-Commerce so that we will have a positive effect on India’s economic and social development.