e-commerce

Running Head : Electronic Commerce

Basic Information about Electronic Commerce

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Abstract

Electronic commerce involves transactions done on the Internet . It may include purchase of products and services , banking , flight reservations and others

This will delve on the basic information about electronic commerce

Basic Information about Electronic Commerce

What is E-Commerce

Electronic Commerce (e-commerce ) is the transaction of business using the Internet . It includes retail shopping , banking , trading of stocks and bonds , auctions , real estate , booking a flight , movie rentals , and

any other transaction (Kayne , 2008

Long ago , a company had to invest on an expensive software and personal security certificate in to conduct e-commerce . However , this is no longer applicable since e-commerce is now offered by companies such as Google and Yahoo . They provide turnkey solutions to merchants with minimal or no experience in the field (Kayne , 2008

Although e-commerce was hounded by security concerns , advancements in technology have made online purchases secured worldwide . Realizing the potential of e-commerce , credit card firms removed any worries by giving an assurance to cardholders that they will not be held liable for fraudulent charges due to Internet shopping . These factors have contributed to the growth of e-commerce (Kayne , n .d

One reason for the popularity of e-commerce is convenience . Hopping from store to store can be a hassle . It can take up precious time and consumes a lot of energy . This is where an individual can benefit from e-commerce . The customer can save on fuel costs because they need not go to stores . In addition , the customer need not go from one store to another just to find the items they are looking for . With sites like E-Bay , PriceGrabber , and Froggle , e-commerce does the job of finding the right item for the customer . All that is needed is a personal computer and Internet connection (Kayne , 2008

Types of E-Commerce

Here are the following types of e-commerce transactions

Product Transactions

Retail online stores usually include electronic catalogs that provide a of merchandise for sale . Prospective buyers can look for individual products or make a random browsing of the electronic catalogs , which are much larger than mail ones (Scisco , 2008 . An online book store such as Amazon .com , for instance , has millions of titles to purchase which are far bigger than what would fit into a real-world bookstore (Scisco , 2008 Parry , 1999

Service Transactions

Other e-commerce sites specialize on service . Most of them offer financial services such as online trading of stocks . There are other websites that provides mortgage , salary , or housing loans without the borrower having to go to their office . There are also travel-oriented sites which allow customers to book flights , rent cars , arrange hotel accommodations , and buy their tickets on the site (Scisco , 2008

Auctions

Instead of selling merchandise from their own stocks , e-commerce likewise allows both buyers and sellers a venue for selling and buying personal items . Purchase of a commodity to a buyer is done through bidding . The customer with the best bid...