E-Commerce Its Development and Future Perspectives

E-COMMERCE: ITS DEVELOPMENT AND FUTURE PERSPECTIVES E-COMMERCE Manzoor and Amir defined E-commerce as the buying and selling of goods and services via electronic means such as the internet. The e-commerce is generally efficient due to its availability throughout where the buyers meet the sellers online. Some services rendered to customers via e-commerce service include: automated data collection systems, mobile commerce, supply chain management, electronic data interchange, online transaction processing, electronic funds transfer, internet marketing. This service is more dependent on the Worldwide Web for its transactions apart from the technologies like the social media, mobile devices telephones and e-mails. E-commerce generally called electronic commerce is an aspect of e-business which encompasses the exchange of data to enhance payment and financing transactions related to business activities. (378) Major application areas of e-commerce outlined by McGaw and Jim include: online banking, electronic tickets, group buying, online shopping, online office suits and enterprise content management etc. (261) Ecommerce as stated by Manzoor and Amir can be grouped as follows: Business to business, Business to consumer, Business to government and Consumer to consumer. (379) Development of E-Commerce In 1971: ARPANET was used to arrange a cannabis sale in M.I.T. andShow MoreRelated E-Commerce: Its Development and Future Perspectives Essay680 Words   |  3 PagesE-commerce has become very vital for many businesses to reach out to larger markets at cheaper costs unlike before. It relies on the cyberspace as its main backbone. A lot of people can now make instant payments for items bought online from the comfort of their living rooms or offices. It is also now possible for millions of people from across the world to work online and receive their payments courtesy of e-commerce. 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