Business and Management
Submitted By tyira500
All You Need to Know about e-Commerce
This article talks about Electronic Commerce, what it is and its advancing role in this Internet age.
E-Commerce or Electronic Commerce (EC) is the practice of buying and selling varied good and services on the World Wide Web (Internet). e-Commerce in its basic sense means the same as traditional commerce where buyers and sellers come together for doing business by buying and selling goods and services. The difference is that e-Commerce happens over wired communication lines connected throughout the globe where the World Wide Web serves as the central medium for all trading transactions. e-Commerce also happens through the use of more limited forms of communication such as email, facsimile or fax.
e-Commerce enables sell and purchase of commodities and services right from your home and without leaving for seeking what you need. You have to simply hit the service provider's website, search for what you need or setup what you want to provide and instantly get the business done. If you are making purchases online for virtual products and services, most of the time you will get the products and services at the instance of your payment acknowledgment.
Monetary transactions happen over secure gateways and encrypted channels, so we can term e-commerce to be a reliable trading environment. Payments can be made with the use of Credit Cards, e-Checks, Payment Gateways or even through traditional payment systems.
Types of e-Commerce
Business to Business (B2B)
Business-to-Business e-commerce has been around for some time. Over 90% of all e-commerce transactions on the Internet are B2B. B2B enables automating transactions between trading partners for business efficiency. B2B is also known to be Electronic Data Interchange (EDI).
Business to Consumer (B2C)
Business-to-Consumer is considered to be one of the best things to...