E-Commerce: Doing Business on the Internet. Commerce. The buying and selling of goods, especially on a large scale. Commerce is done between businesses, individuals, countries, and so on. E-Commerce . What is E-Commerce? Doing business online, typically via the Web
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The consumer moves through the internet to the merchant's web site. From there, he decides that he wants to purchase something, so he is moved to the online transaction server, where all of the information he gives is encrypted. Once he has placed his order, the information moves through a private gateway to a Processing Network, where the issuing and acquiring banks complete or deny the transaction. This generally takes place in no more than 5-7 seconds.There are many different payment systems available to accommodate the varied processing needs of merchants, from those who have a few orders a day to those who process thousands of transactions daily. With the addition of Secure Socket Layer technology, eCommerce is also a very safe way to complete transactions.
Explosion of connectivity
Dissemination of standards
The Changing Economics of Information
Buyers and sellers meet to exchange
Interorganizational Information Systems (IOS)
Between two or more organizations
Routine transaction processing
Information flowElectronic Markets vs. Interorganizational Systems
m-commerce transactions targeted to individuals in specific locations, at specific times
There are three general ways to implement the site with all sorts of variations in between. The three general ways are:
These are in order of decreasing flexibility and increasing simplicity.
Return-on-investment is difficult to apply to electronic commerce.
Businesses face cultural and legal obstacles to conducting electronic commerce.Disadvantages of Electronic Commerce
The environment, pressure, and support model
Electronic funds transfer (EFT)
A few other daring businessesBrief History of EC
E-payments between firms doing business
Enlarged pool of participants to include:
Service providersBrief History of EC (cont.)