E commerce

Electronic commerce, commonly known as e-commerce  or eCommerce, is a type of industry where the buying and selling of

products or services is conducted over electronic systems such as the Internet and other computer networks.

Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems.

Modern electronic commerce typically uses the World Wide Web at least at one point in the transaction's life-cycle, although it may encompass a wider range of technologies such as e-mail, mobile devices, social media, and telephones as well.

E- Commerce

Various Online Sites for Shopping

E-tailing or "virtual storefronts" on websites with online catalogs, sometimes gathered into a "virtual mall“

Buying or Selling on various websites and/or online marketplaces

The gathering and use of demographic data through Web contacts and social media

Electronic Data Interchange (EDI), the business-to-business exchange of data

E-mail and fax and their use as media for reaching prospective and established customers (for example, with newsletters)

Business-to-business buying and selling

E-commerce can be divided into:

Visa/MasterCard has published their definition of an electronic commerce transaction to include "...a transaction conducted over the Internet or other network using a cardholder access device, such as a personal computer or terminal,“

When a cardholder enters credit card information into a form or shopping cart at a merchant's website, this is an electronic transaction. The cardholder initiated the transaction by entering card data and transmitting it to the merchant over the Internet.

If the cardholder sends an order request and the credit card information to the merchant in an eMail, this too, is considered an electronic commerce transaction, as the cardholder initiated the transaction by entering card data and transmitting it to the merchant over an electronic network.

Some Fine Points in the Visa/MC Regulations

If a cardholder visits a merchant's website for product information, and does not transmit an order over the Internet, but instead sends the order to the merchant by fax [or telephone or mail] this is considered a mail/telephone transaction because the cardholder did not use a PC or transmit the information over the Internet.

An electronic commerce merchant receives an order via phone or fax. The merchant enters the transaction information into its system to obtain authorization and to process the transaction. This is a mail/telephone order transaction. The cardholder initiated the transaction via phone or fax.

Contd…

Some common applications related to e-commerce are the following: Document automation in supply chain and logistics Domestic and international Payment systems Enterprise content management Group buying Automated online assistants Instant messaging Newsgroups Online shopping and order tracking Online banking Online office suites Shopping cart software Teleconferencing Electronic tickets Social-networking

Business Applications