E Commerce
These services provided online over the internet network. Transaction of money, funds, and data are also considered as E-commerce. These business transactions can be done in four ways: Business to Business (B2B), Business to Customer (B2C), Customer to Customer (C2C), Customer to Business (C2B).
While most people think of ecommerce as business to consumer (B2C), there are many other types of ecommerce. These include online auction sites, internet banking, online ticketing and reservations, and business to business (B2B) transactions. Recently, the growth of ecommerce has expanded to sales using mobile devices, which is commonly known as ‘m-commerce' and is simply a subset of ecommerce
Why has ecommerce seen explosive growth over the past decade? As the internet becomes ingrained in our daily lives, acceptance of ecommerce continues to grow, and businesses are taking advantage of this.
In the early 2000’s many people were skeptical about handing over their card details to an online retailer. Whereas, ecommercetransactions are now second nature. SSL certificates, encryption and reliable external payment systems such as Paypal, Worldpay, and Skrill have helped improve people’s confidence in e commerce.