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Name:-YogitaBangeraRoll No:-02/TwoClass:-S.Y.BBISubject:-I.T

Definition of

E-Commerce

Electronic Commerce means buying and selling of goods and services across theinternet. An e commerce site can be as simple as a catalog page with a phone no, orit can range all the way to a real time credit and processing site where customer canpurchase downloadable goods and receive them on the spot.

What is

E-Commerce

Electronic Commerce (EC) is the paperless exchange of business information usingElectronic Data Interchange (EDI) and related technologies. If you are familiar withElectronic Mail (E-Mail), computer bulletin boards, facsimile machines (faxes),Electronic Funds Transfer (EFT) You can very wellunderstand what ise-commerce.These are all forms of EC. All EC systems replace all or key parts of paper-basedwork flow with faster, cheaper, more efficient, and more reliable communicationsbetween machines. In today's Defense Department procurement arena, however themost important EC technology to know about is Electronic Data Interchange, orEDI.Electronic commerce, commonly known as e-commerce or eCommerce, consists of the buying and selling of productsorservicesover electronic systems such as the Internet and othercomputer networks.The amount of trade conductedelectronically has grown extraordinarily since the spread of the Internet. A widevariety of commerce is conducted in this way, spurring and drawing on innovationsinelectronic funds transfer,supply chain management,Internet marketing,online transaction processing,electronic data interchange(EDI),inventory management systems, and automated data collection systems. Modern electronic commercetypically uses theWorld Wide Webat least at some point in the transaction'slifecycle, although it can encompass a wider range of technologies such ase-mailaswell. A large percentage of electronic commerce is conducted entirely electronicallyforvirtualitems such as access to premium content on a website, but most electroniccommerce involves the transportation of physical items in some way. Onlineretailers are sometimes known as e-tailers and online retail is sometimes known as e-tail. Almost all big retailers have electronic commerce presence on the World WideWeb.Electronic commerce that is conducted between businesses is referred to asBusiness-to-businessor B2B. B2B can be open to all interested parties (e.g.commodity exchange) or limited to specific, pre-qualified participants (private

electronic market). Electronic commerce is generally considered to be the salesaspect of e-business. It also consists of the exchange of data to facilitate the financingand payment aspects of the business transactions.

History

Template:Malaika&&ShelbyThe meaning of electronic commerce has changed overthe last 30 years. Originally, electronic commerce meant the facilitation of commercial transactions electronically, using technology such asElectronic Data Interchange(EDI) andElectronic Funds Transfer(EFT). These were both introduced in the late 1970s, allowing businesses to send commercial documents likepurchase ordersorinvoiceselectronically. The growth and acceptance of credit cards,automated teller machines(ATM) andtelephone bankingin the 1980s were also forms of electronic commerce. From the 1990s onwards, electronic commercewould additionally includeenterprise resource planningsystems (ERP),data mining anddata warehousing.Perhaps it is introduced from the Telephone Exchange Office, or maybe not.Theearliest example of many-to-many electronic commerce in physical goods was theBoston Computer Exchange, a marketplace for used computers launched in 1982.The first online information marketplace, including online consulting, was likely theAmerican Information Exchange, another pre-Internet online system introduced in1991.Although theInternetbecame popular worldwide in 1994, it took about five years tointroduce security protocols andDSLallowing continual connection to the Internet.And by the end of 2000, a lot of European and American business companies offeredtheir services through theWorld Wide Web. Since then people began to associate aword "ecommerce" with the ability of purchasing various goods through theInternet using secure protocols and electronic payment services.