What is e-commerce ?
e-commerce is an all pervasive
term which may be defined in following way:
Electronic Commerce is the buying and selling of goods and services or
the transfer of money over the Internet or an Intranet. This can involve
shops, stores, business, banks... anything where monetary transaction
takes place.
Why e-commerce
It is now established that use
of e-commerce will revolutionize trade and commerce throughout the world.
Some of the advantages are:
- Unprecedented market reach in home and abroad
- Significant saving in transaction cost
- Simpler and transparent procedure
- Possible elimination of intermediaries between original producer and
end-user
Already, value of e-commerce transactions worldwide are in billions of
dollars. This is going to turn to trillions within next few years.
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