Abstract
E-commerce or Electronic commerce is a methodology of modern business, which addresses the requirements of business organizations. It can be broadly defined as the process of buying or selling of goods or services using an Electronic Medium such as the Internet. A person sitting on his chair in front of a computer can access all the facilities of the internet to buy or sell the products. Traditional commerce that is carried out physically with effort of a person to go and get products. E-commerce has made it easier for human to reduce physical work and to save a lot of time. Even though it gives a lot of advantages to the economy, it faces some demerits mainly in the case of security. Security is the challenge facing E-commerce today. With the invention of E-commerce there is the possibility for B to B business, business through ads in YouTube, through website, mobile commerce, Electronic Fund Transfer, supply chain management, internet marketing, online transaction process etc..Even though with merits and demerits, E-commerce is in a developing stage.
Highlights
Electronic Commerce is defined as the process of buying or selling of goods or services using an electronic medium such as the internet
The invention of faster internet connectivity and powerful online tools has resulted in a new commerce arena- E-commerce
For both consumers and business, E-commerce proves to be more convenient as online trading has less red tape compared to traditional commerce method in global market sense, the appearance of E-commerce as a pioneer has opened up various windows of opportunities for a variety of other companies investors
Summary
Electronic Commerce is defined as the process of buying or selling of goods or services using an electronic medium such as the internet. Electronic Commerce emerged in the early 1990 s and its use has increased at a rapid rate. ECommerce involves conducting business using modern communication instrument like Internet, Fax, Telephone, E-data inter change, E-Payment, Money transfer system. E-Commerce provides multiple benefits to the consumers in the form of availability of goods at lower cost, wider choice and saves time. People or consumer can buy goods with a click of mouse button without moving out of their house or offices. Online services such as Internet banking, Tickets include Airlines, Railway, Bus Bill Payment, Hotel Booking etc
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