E-commerce refers to business conducted over the internet and involves the communication and service of online transactions. The document outlines the history of e-commerce beginning in the 1970s with EFT and 1980s with EDI. There are three types of e-commerce: inter-organizational, intra-organizational, and consumer-to-business. While e-commerce provides benefits like customized products, easy accessibility, and discounts, it also faces challenges such as lack of awareness, lack of trust, and network breakdowns. However, the advantages of e-commerce have the potential to outweigh the disadvantages with proper strategies to address technical issues and build customer trust.