WHAT IS ELECTRONIC COMMERCE?
Electronic commerce, commonly known
as e-commerce , is the buying and
selling of products or services over
electronic systems such as the Internet
and other computer networks.
Electronic commerce draws on such technologies
• electronic funds transfer,
• supply chain management,
• Internet marketing,
• online transaction processing,
• electronic data interchange (EDI),
• inventory management systems,
• automated data collection systems
• Electronic commerce is generally
considered to be the sales aspect of e-
• It also consists of the exchange of data to
facilitate the financing and payment
aspects of business transactions.
• E-commerce does not just mean trading
and shopping on the Internet. It
• means business efficiency at all operation
FEATURES OF E-COMMERCE
• User Interface or Front End
• Shopping Cart software
• Payment gateway ex-paypal
• Merchant account ex-paypal
• Security encryption
BUSINESS APPLICATIONS OF
• Domestic and international payment systems
A payment system is a system used for transferring money.
Payment systems are used in lieu of tendering cash in domestic
and international transactions and consist of a major service
provided by banks and other financial institutions.
• Group buying
Group buying, also known as collective buying, offers products
and services at significantly reduced prices on the condition that a
minimum number of buyers would make the purchase.
• Automated online assistants
An automated online assistant is a program that uses artificial
intelligence to provide customer service or other assistance on
a website. Such an assistant may basically consist of a dialog
system, an avatar, as well an expert system to provide specific
expertise to the user
• Online shopping and order tracking
Online shopping or online retailing is a form of electronic
commerce whereby consumers directly buy goods or services from a
seller over the Internet without an intermediary service.
• Online 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 may include
of any transactions related to online usage
A teleconference or teleseminar is the live exchange and mass
articulation of information among several persons and machines
remote from one another but linked by a telecommunications
system. Terms such as audio conferencing, telephone conferencing
and phone conferencing are also sometimes used to refer to
An electronic ticket (commonly abbreviated as e-ticket) is a digital
ticket. It may be issued by an airline, in road, urban or rail public
transport, and in entertainment.