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E-Commerce is one of the most important aspects of the internet to emerge. It allows people to exchange goods and services immediately and with no barriers of time or distance. Any time of the day or night, you can go online and buy almost anything you want.
However, the road to creating a successful online store can be a difficult and confusing one if you are unaware of the concepts and principles behind eCommerce. The trick to entering this market smoothly is to find out what you need to do before you have to do it.
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.
Electronic commerce, or e-commerce, is the process of using digital technology as the medium for transmitting information between organizations. Digital technology replaces paper-based processes, resulting in lower costs, greater accuracy, higher speed and larger scale inter-company collaboration.
E-commerce can be conducted using many electronic methods, but it is the advent of the Internet that has fuelled the explosive growth in this form of commerce. Web commerce or Internet commerce are terms often used to refer specifically to electronic commerce conducted over the Internet. E-commerce is generally
Terminology mentioned in this term paper
Electronic commerce, E-Commerce, supply chain, private communications networks,
Technology referenced in this paper
Internet, Digital technology,
Organizations mentioned in this term paper
Companies mentioned in this term paper
Keywords referenced in this term paper
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