E-commerce (or electronic commerce) is used to describe business that is conducted over the Internet using any of the applications that rely on the Internet, such as e-mail, instant messaging, shopping carts, Web services, FTP, and EDI (electronic data interchange), among others. Electronic commerce can be between two businesses transmitting funds, goods, services and/or data or between a business and a customer.
Examples of E-Commerce:-
Online Shopping
Electronic Payments
Online Auctions
Internet Banking
Online Ticketing
Types of E-commerce
Business to Business (B2B)
B2B eCommerce transactions are those where both the transacting parties are businesses, e.g., manufacturers, traders, retailers and the like.
B2B eCommerce transactions are those where both the transacting parties are businesses, e.g., manufacturers, traders, retailers and the like.
Business to Consumer (B2C)
When businesses sell electronically to end-consumers, it is called B2C ecommerce.
When businesses sell electronically to end-consumers, it is called B2C ecommerce.
Consumer to Consumer (C2C)
Some of the earliest transactions in the global economic system involved barter - a type of C2C transaction. But C2C transactions were virtually non-existent in recent times until the advent of ecommerce. Auction sites are a good example of C2C eCommerce.
Some of the earliest transactions in the global economic system involved barter - a type of C2C transaction. But C2C transactions were virtually non-existent in recent times until the advent of ecommerce. Auction sites are a good example of C2C eCommerce.
Advantages of E-commerce
1. Overcome Geographical Limitations
2. Gain New Customers with Search Engine Visibility
3. Lower Costs
4. Locate the Product Quicker
5. Eliminate Travel Time and Cost
6. Provide Comparison Shopping
7. Enable Deals, Bargains, Coupons, and Group Buying
8. Provide Abundant Information
Disadvantages of E-commerce
1. Ecommerce Lacks That Personal Touch
2. Ecommerce Delays Goods
3. Anyone Can Set Up an Ecommerce Website
4. Security
5. Many Goods Cannot Be Purchased Online
6. Ecommerce Does Not Allow You to Experience the Product before Purchase
4. Security
5. Many Goods Cannot Be Purchased Online
6. Ecommerce Does Not Allow You to Experience the Product before Purchase
E-banking
Online banking (or Internet banking or E-banking) allows customers of a financial institution to conduct financial transactions on a secure website operated by the institution, which can be a retail or virtual bank, credit union or building society. It is very important to make sure that the transaction is secure from theft
Security (online transaction)
- Use the latest Internet browser
- Look for digital certificates
- Look for digital certificates
- Only use one credit card
- Never give out passwords or user ID information online unless you know who you are dealing with
- Keep records of all of your Internet transactions.
- After you've made purchases online, check your e-mail
- Not sharing passwords
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